What is the current value of a share of Commonwealth Edison common stock to an investor who

Question:

What is the current value of a share of Commonwealth Edison to an investor who requires a 12 percent annual rate of return, if next year's dividend, D1, is expected to be $3 per share and dividends are expected to grow at an annual rate of 4 percent for the foreseeable future?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...