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1. A share of stock in a firm that has justpaid a $3 dividend. This dividend is expected to grow by 3 percent for three

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1. A share of stock in a firm that has justpaid a $3 dividend. This dividend is expected to grow by 3 percent for three years (e.g. year 1 , year2, year 3 ) and then experience no growth through year 5. In year 6 and year 7 it will grow at 2 percent and then 1 percent forever. What is the earliest year that you can find the future selling price? Explain fully. (NOTE that I am NOT asking you to calculate the price today or in the futurel)

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