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Analysts expect that company Z will pay dividends of $1.6 in one year, $3.4 in two years, and $4.6 in three years. For all years

image text in transcribed Analysts expect that company Z will pay dividends of $1.6 in one year, $3.4 in two years, and $4.6 in three years. For all years afterwards, dividends will grow at 3.4% per year. Assume that investors' required rate of return is 8.8%. According to the Dividend Discount Model, what should be the price of company Z stock

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