If CLF$$s dividend was expected to grow at $21\%$ for the next $3$ years, and then return to a constant

growth rate of $4\mathrm{.}8\%$ thereafter $($post year $3),$ what would you model its stock price to be $($again$,$

assuming a required rate of return of $9\mathrm{.}6\%$ and D$0$ of $$1\mathrm{.}32).(10$ Points$)$

ADDITIONAL INFO BELOW TO ANSWER:

D$0($last periods divdend$)$ $$1\mathrm{.}32$

D$1($last period's divdend $*(1+$ divdend growth rate$))$ $$1\mathrm{.}38$

g $4\mathrm{.}80\%$

stock price $$27\mathrm{.}50$

Dividend Yield $4\mathrm{.}80\%$

Captial Gains Growth Rate $9\mathrm{.}83\%$

last period$$s dividend was $$1\mathrm{.}32$ and its dividend growth

forever is expected to be $4\mathrm{.}8\%$ and a required rate of return of $9\mathrm{.}6$