Problem Set #1A company is expected to pay no dividends for the next 3 years. However, at the end of the 4th year, the company is expected to pay a dividend of $2/share. Dividends are expected to grow...

Problem Set #1A company is expected to pay no dividends for the next 3 years. However, at the end of the 4th year, the company is expected to pay a dividend of $2/share. Dividends are expected to grow at 10% per year for the following 9 years (through the end of the 13th year, i.e., time 13), then to grow at 5% every year thereafter (forever). Assume the appropriate discount rate (required return) is 10%.What is the value of the stock today?What is the expected value of the stock at time 13?What is the expected value of the stock at time 3?Make sure to show your workings.