Problem $8-1$ Stock Values $[$LO$1]$

The RLX Company just paid a dividend of $$1\mathrm{.}25$ per share on its stock. The dividends are expected to grow at a constant rate of $5$ percent per year indefinitely. Investors require a return of $12$ percent on the company's stock.

a$.$ What is the current stock price? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What will the stock price be in $3$ years? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

c$.$ What will the stock price be in $8$ years? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

$\backslash$table$[[$a$.$ Current price,$],[$b$.$ Stock price in $3$ years,$],[$c$.$ Stock price in $8$ years,$]]$