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CX Enterprises has the following expected dividends: $ 1.14$1.14 in one year, $ 1.25$1.25 in two years, and $ 1.32$1.32 in three years. After that,
CX Enterprises has the following expected dividends: $ 1.14$1.14 in one year, $ 1.25$1.25 in two years, and $ 1.32$1.32 in three years. After that, its dividends are expected to grow at 3.6 %3.6% per year forever (so that year 4's dividend will be 3.6 %3.6% more than $ 1.32$1.32 and so on). If CX's equity cost of capital is 11.5 %11.5%, what is the current price of its stock?
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