B corp. anticipates a non-constant growth pattern for dividends. Dividends are expected to be $1.30 next year followed by a 20% growth rate until the end of year five. At this time dividends will grow at a 10% rate for the foreseeable future. Use a discount rate of 12% (Ke) throughout your analysis. Round all values that you compute to two places to the right of the decimal point. Calculate P0.

a. Present a table to find PV (dividend from year 1 to year 5)

b. Show PV (dividend from year 1 to year 5)

c. Show formula to find Price at Year 5

d. Show formula to find PV (Price at year 5)

e. Show Price of the common stock