Company Z has just been organized. It is expected to experience zero growth next year and grow at a $10\%$ rate in years $2$ and $3.$ Beginning in the fourth year the company should attain a $5\%$ growth rate which it will sustain thereafter. The last dividend paid was $$1\mathrm{.}0$ per share. If the required return is $10\%,$ what should be the present price of the stock? $(10$ pts$)$

$4$b$.$ What should be the price of the stock at the end of the fifth year? $(6$ pts$)$