Comcast recently paid a dividend of $.50 per share. Yesterday, they announced that the dividend will grow next year by 8% and will grow at 10% for the two years following, after which time the dividends will increase by 3% annually. The required return on this stock is 9.5%. Show your work for partial credit.

a. What is the current value per share? (use of the table is not required)

Dividend	Growth rate	FV	N	I	PMT	PV
	8%
	10%
	10%
	3% constant

b. If the current market price of Comcast is $8.22 per share, is this stock under- or over-valued in the market? Would you buy or sell based on the valuation vs. the market price