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Bentley Manufacturing, Inc. has outstanding common stock outstanding and just paid a dividend of $3.25 (which implies that DIV 0 = $3.25). The stocks dividend

Bentley Manufacturing, Inc. has outstanding common stock outstanding and just paid a dividend of $3.25 (which implies that DIV0 = $3.25). The stocks dividend is projected to increase at a constant rate of 5% per year (g = 5%). The required rate of return on the stock is 11% (r = 0.11. Based on this information what is the expected price of Bentleys stock today (Po)? Also, since this is a constant growth stock, what will be the price of Bentleys common stock in three years (that is, what is P3, in 2023)?

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