you are considering buying some shares of foragist inc. The company's stock has a current price of $12 per share, the company has announced that its dividend this year will equal $1.5 per share(which will be paid one year from today). the company dividends are expected to grow at a rate of 3% per year forever after this year

1. What is the expected return on foragist common stock given the information above
2. You believe that the expected return you calculated in part (a) is the appropriate discount rate for Foragist stock, but you think that the company's dividends will actually grow at 5% for one year and then grow at 3% forever(i.e., you think the year 2 dividend will be 5%higher than this year's dividend, while the year 3 and all later dividends will be 3% higher than the prior year). Given this belief, what is your estimate of the value of a share of Foragist stock?