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An analyst has been following American Dream stock. He projects the following dividends for the next three years: YEAR 1 2 3 Dividend $ 1

An analyst has been following American Dream stock. He projects the following dividends for the next three years:
YEAR 123
Dividend $1.86 $2.15 $2.96
The analyst notes that American Dream stock has a required return of 9.71%. The analyst projects that dividends will grow at a constant rate of 5.00% per year after year 3.
What is the projected selling price for the stock at the end of year 3?

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