An analyst has been following American Dream stock. He projects the following dividends for the next three years: YEAR Dividend 1 $1.99 2 $2.25 3 $3.12 The analyst notes that American Dream stock has a required return of 9.90%. The analyst projects that dividends will grow at a constant rate of 2.84% per year after year 3. What is the projected selling price for the stock at the end of year 3? Submit Answer format: Currency: Round to: 2 decimal places. Show Hint An analyst has been following American Dream stock. He projects the following dividends for the next three years: 1 2 3 YEAR Dividend $1.99 $2.25 $3.12 The analyst notes that American Dream stock has a required return of 9.90%. The analyst projects that dividends will grow at a constant rate of 2.84% per year after year 3. What is the current price of the stock if his assumptions are correct? Submit