Firm JJJ has just paid a dividend of 1.5

The dividends are expected to grow at 25% for the first two years

From year 3 to year 7, the dividends are expected to grow at 18.5%

From year 8 to year 12, the firm decided not to pay any dividend to its shareholders

From year 13 to year 15, the dividend will grow at half the rate of growth in year 2.

Starting from year 16, dividends are expected to grow at a constant rate of growth of 5% forever.

The required rate of return on equity is 12%

The required rate of return on debt is 11%

The weighted average cost of capital of the firm is 8.6%

a/ Compute the current stock price

b/ Compute the stock price at the end of year 5

c/ Compute the stock price at the end of year 30