Ace Frisbee Corporation produces a good that is in consolidation state in their product life cycles. Ace Frisbee Corporation is expected to pay a dividend in year 1 of $5.00, a dividend in year 2 of $5.50, and a dividend in year 3 of $6.00. After year 3 , dividends are expected to grow at the rate of 5% per year. This company has a beta of 1.25. The risk-free rate of return is 3% and the expected return on the market portfolio is 12%. Using the multistage DDM, a. What is the required rate of return? b. What is the terminal value of the stock at end of year 3 ? c. What should be the price of the stock today