Farmco just paid a dividend of $.20 per share. The dividends are expected to grow at 20

percent annually for the next 7 years and then level off to an annual growth rate of 3

percent indefinitely. What is the price of this stock today given a required return of 15

Percent?

the answer is 3.98

But I need clear and easy steps because I missed it up.

show easy steps in writing not pic exl. thx vote up