A share of stock in a firm that has just paid 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.