Question: ELA, Inc. will pay a $ 0 . 6 0 dividend today. The dividend is expected to triple in the first year and then double

ELA, Inc. will pay a $0.60 dividend today. The dividend is expected to triple in the first year and
then double in the second year. After that the dividend will grow at a constant annual rate of 5%.
ELAs capitalization rate is 11.0%.6 pts
a. What is ELAs intrinsic value today?
b. What do you expect will be ELAs stock price three years from today? $66.15
I just need the work for part b. I know the answer is 66.15

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