#$3.$ A stock just paid a dividend this morning of $$1\mathrm{.}27.$ Dividends are expected to grow at $12\mathrm{.}00\%$ for the next two years. After year $2,$ dividends are expected to grow at $8\mathrm{.}34\%$ for the following three years. At that point, dividends are expected to grow at a rate of $4\mathrm{.}00\%$ forever. If investors require a return of $15\mathrm{.}00\%$ to own the stock, what is its intrinsic value?

Answer format: Currency: Round to: $2$ decimal places.

#$4$ An analyst has been following American Dream stock. He projects the following dividends for the next three years:

YEAR

Dividend

Dividend

$1$

$$1\mathrm{.}62$

$$1\mathrm{.}62$

$2$

$$2\mathrm{.}53$

$$2\mathrm{.}53$

$$3\mathrm{.}08$

The analyst notes that American Dream stock has a required return of $9\mathrm{.}74\%.$ The analyst projects that dividends will grow at a constant rate of $5\mathrm{.}00\%$ per year after year $3.$

What is the projected selling price for the stock at the end of year $3?$

Answer format: Currency: Round to: $2$ decimal places.