Lime Corp. paid out a $3 dividend per share to their shareholders 'last year' and has just decided in the shareholders' meeting for increasing dividends continuously by 2% every year (g=2%). Considering a 6% required return to a comparable stock with similar risk, what would be the fair value of Aspect's stock on a per-share basis?

1. First, when you draw the timeline for this stock, what is the first cash flow (dividend) that occurs at the end of the first year?