Calculate the estimated value of the share, shows the calculations, answers and assumptions:

An investor decides to buy shares of a company with an investment horizon of 3 years. He assumes that he will sell the stock for $20.00 and estimates the rate of return to be 10%. The expected dividend payout is as follows: Year 1: $1.00 Year 2: $1.05 Year 3: $1.10 Year 4: $1.05