CX Enterprises has the following expecteddividends: $1

1 in oneyear, $1.13

1.13 in 2years, and $1.20

1.20 in 3 years. Afterthat, its dividends are expected to grow at 5

5% per year forever(so that year4's dividend will be 5

5% more than $1.20

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

13%, what is the current price of itsstock?