Question: Please explain the steps for the answer in simple manner Winter Green Decors announced today that it will begin paying annual dividends. The first dividend

Please explain the steps for the answer in simple manner

Winter Green Decors announced today that it will begin paying annual dividends. The first dividend will be paid next year in the amount of \$ \\$ 1.40 \$ a share. The following dividends will be \$ \\$ 1.60, \\$ 1.85 \$, and \$ \\$ 2.00 \$ a share annually for the following three years, respectively. After that, dividends are projected to increase by \3 per year. How much are you willing to pay to buy one share of this stock today if your desired rate of return is \9

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