Boricaly, this equation colculates the present value of dividends recelved during the nonconstant growth period and the present value of the stock's horizon value, whith is the value at the horizon date of all evidends expected thereafter. Quantitatlve Problem 3i Assume todqy is December-31, 2019. tmaeine worle Inc. just paid a dividend of s1.20 per share at the end of 2019 . The dividend is expected to grow at 124 pet year for 3 yebre, ahter which tme it is expected to grow at a constant rate of 5 gh annualiy, The company's cost of equity (ri) is 9 . Ueisg the divicthd growth medel (wowing for nocconstant growth), what should be the price of the company's stock today (December 31 , 2019 )? Do not round per whare