Question: please help with this homework problem A stock is expected to pay its first annual dividend in 3 years. The dividend is expected to stay

please help with this homework problem

A stock is expected to pay its first annual dividend in 3 years. The dividend is expected to stay constant at $1.4 per year for 22 years and then grow at 5% annually forever. The required rate of return is 14%. (hint: non-standard dividends: two-stage of dividends) Attempt 1/3 for 10 pts. art 1 What is the PV today of the first-stage dividends? (22 years of constant $1.4 dividend per year is the first stage) - Attempt 1/3 for 10 pts. Part 2 What is the PV today of the second-stage dividends? (dividends after the 22 years of constant dividend is the second stage)

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