4. Changing Stock Price Year by Year

The price of a stock can vary from year to year. Using the dividend model and the following information, calculate the dividend price each year and then graph the changing price of the stock. The current dividend is $2.80, the dividend growth rate is 4.0%, and the required return is:

Year	Return	Year	Return	Year	Return	Year	Return	Year	Return
1	11.20%	4	11.45%	7	11.55%	10	11.73%	13	10.96%
2	12.15%	5	12.06%	8	10.83%	11	11.98%	14	12.15%