Today's dividend is $10. Next year dividend will Expected rate of return in the market is 15%

Question:

Today's is $10. Next year will Expected rate of return in the market is 15% and the firm's growth rate is 3%. The firm pays out half of its growth in dividends.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...