In$$ mid$-2018,$ some analysts recommended that General Electric $($GE$)$ suspend its dividend payments to preserve cash needed for investment. Suppose you expected GE to stop paying dividends for two years before resuming an annual dividend of $$$$1\mathrm{.}10$ per$$ share, paid $3$ years from$$ now, growing by $2\mathrm{.}6\%$ per year. If GE$\text{'}$s equity cost of capital is $9\mathrm{.}4\%,$ estimate the value of GE$\text{'}$s shares today.

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Part $1$

The value of GE$\text{'}$s shares today is $$