Question: What is the expected real (total) return on the stock in year 4 (from the end of year 3 to the end of year 4)

What is the expected real (total) return on the stock in year 4 (from the end of year 3 to the end of year 4) ?

Suppose that a firm is expected to pay a dividend of $2 next year. Thereafter, the nominal dividend growth rate is expected to be 8% for four years and then it will be 3% per year forever. The annual nominal discount rate is 12% and the inflation rate is expected to be 2% annually

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