Drake semiconductor, Inc. is experiencing a period of rapid growth. Earnings and dividends are expected to grow at a rate of 18 percent during the next two years, at 12 percent in the third year, and at a constant rate of 5 percent thereafter. Drake's last dividend was $1.15, and the requiered rate of return on the stock is 13 percent. Draw cash flow timeline.

A. Calculate the value of the stock today.

B. Calculate P^1 and P^2

C. Calculate the dividend yild and capital gains yield for years 1,2, and 3.