kenneth cole productions suspended dividend at start of 2009 and as middle of 2012 has not reinstated dividend. suppoe you do not except kcp to repay divdidend until july 2014. you expect kcp dividend in july 2014 to be 1 dollar paid annually and you expect it to grow 5 percent per year thereafter. if kcp's equity cost of capital is 11 percent what is the value of a share of KCP in July 2012