CX Enterprises has the following expecteddividends: $1

1 in oneyear, $1.15

1.15 in 2years, and $1.25

1.25 in 3 years. Afterthat, its dividends are expected to grow at 4

4% per year forever(so that year4's dividend will be 4

4% more than $1.25

1.25 and soon). IfCX's equity cost of capital is 13

13%, what is the current price of itsstock?