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Divvy Inc. pays annual dividends. The next dividend, to be paid after one year, will $3 per share. The following two dividends are expected to

Divvy Inc. pays annual dividends. The next dividend, to be paid after one year, will $3 per share. The following two dividends are expected to be $4 and $5 per share, respectively. The ex-dividend price after three years is expected to be $160. The required return on equity is 10%. Determine the cum-dividend price after three years, the ex-dividend and cum-dividend prices after two years, the ex-dividend and cum-dividend prices after one year, and the current price. Ignore taxes.

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