# ELA, Inc. will pay a $ 0 . 6 0 dividend today. The dividend is expected to

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## Question:

ELA, Inc. will pay a $$0\mathrm{.}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 $5\%.$

ELA$$s capitalization rate is $11\mathrm{.}0\%.\text{}6$ pts

a$.$ What is ELA$$s intrinsic value today?

b$.$ What do you expect will be ELA$$s stock price three years from today? $$66\mathrm{.}15$

I just need the work for part b$.$ I know the answer is $66\mathrm{.}15$