Solve using excel. The Jackson$-$Timberlake Wardrobe Co$.$ just paid a dividend of $$1\mathrm{.}95$ per share on its

stock. The dividends are expected to grow at a constant rate of $4$ percent per year

indefinitely. If investors require a return of $10\mathrm{.}5$ percent on the stock, what is the current

price? What will the price be in three years? In $15$ years?

Current dividend

Dividend growth rate

Required return

Price in Year

Price in Year

Price in Year

$

$1\mathrm{.}95$

$4\%$

$10\mathrm{.}5\%$

$0$

$3$

$15$

Complete the following analysis. Do not hard code values in your calculations.

Dividend in one year

Price today

Dividend in $4$ years

Price in $3$ years

Dividend in $16$ years

Price in $15$ years