On December 31,2019, Microsoft paid an annual dividend per share of $5. Today is January 1st, 2020. The dividend is expected to grow by 2% per year for the next four years and by 1% afterwards in...

On December 31,2019, Microsoft paid an annual dividend per share of $5. Today is January 1st, 2020. The dividend is expected to grow by 2% per year for the next four years and by 1% afterwards in perpetuity. The risk free rate is 6% and the market risk premium is 6%. Microsoft has a beta of 1.3 what should be the stock price of Microsoft on January 1st 2020 based on these dividend forecasts?