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Apple has just paid a quarterly dividend of $3.27. Dividends are expected to grow by 10% for the next 4 quarters and then grow by

Apple has just paid a quarterly dividend of $3.27. Dividends are expected to grow by 10% for the next 4 quarters and then grow by 1.4% thereafter. Apple has a required quarterly return of 2%.

Part 1

What is the expected dividend in four quarters?

Part 2

What is the terminal value in the fourth quarter (P4P4)?

Part 3

What is the intrinsic value of the stock now?

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