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I am actually confused whether to take 0.45 as D0 or D1....plz solve the qn You want to buy Burrito Inc. stock. They pay annual

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I am actually confused whether to take 0.45 as D0 or D1....plz solve the qn

You want to buy Burrito Inc. stock. They pay annual dividends, with the next dividend of $0.45 per share being paid later today. You believe that, during the next 10 years, their annual dividends will grow by 45% APR, compounded annually. But after 10 years, their annual dividends will grow more slowly... only at 4% APR, compounded annually. Burrito Inc. has a beta of 1.78. The risk-free rate of return is 3%, and the average risk premium is 6%. What should be the price of a share of Burrito stock? (You can assume that the return given by the CAPM is compounded annually)

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