a$.$Doss Inc. will not pay it's first dividend until three years from now. The first dividend received in $3$ years is expected to be $$3.$ Dividends are expected to grow at $4\mathrm{.}5\%$ forever after this first dividend payment. The required rate of return for similar stocks is $12\%.$ What is the current value of Doss Inc. stock?

b$.$ Haytham Inc. just paid a dividend of $$1\mathrm{.}50.$ Dividends are expected to grow at $8\%$ for the next two years after which they will grow at $3\mathrm{.}5\%$ indefinitely. The required rate of return for similar stocks is $8\%.$ What is the current value of Haytham Inc. stock?