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A company that just paid a dividend in the amount of $3.75 per share plans to increase its dividend by 12% next year. The company

A company that just paid a dividend in the amount of $3.75 per share plans to increase its dividend by 12% next year. The company plans to then decrease its dividend growth rate by 3% each year until its dividend growth rate reaches 6%. The company is expected to then maintain a constant dividend growth rate of 6% indefinitely. If the required return on the stock is 11.25%, what amount is this stock expected to pay as a dividend 3 years from now?

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