Hello,

I am working on our next chapter for finance, and am having a hard time figuring out how to setup this problem. Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product.Management expects sales and dividends to grow at a rate of 20% for the next 4 years, after which competition will probably reduce the growth rate in sales and dividends to zero, i.e., g = 0.The company's last dividend, D₀, was $1.20, required rate of return on the stock is 9.60%.What is the current price of the common stock?

Any insight would be appreciated!