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Dividends on Audrey Glamour common stock are paid annually and are expected to be as follows over the next 4 years: Year one - $

Dividends on Audrey Glamour common stock are paid annually and are expected to be as
follows over the next 4 years: Year one- $3, Year 2- $3.50, Year 3- no dividend, Year 4- $4.50.
Audrey Glamour dividends are expected to grow at a rate of 6.5 percent annually thereafter. If
the interest rate is ten percent, what would you pay for Audrey today?
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