Part $5.$ Must show all work to get credit. An answer without steps will have a grade of zero. Calculate the stock price that will not pay any dividends for $2$ years. In year $3$ it will pay $$4$ per share, and it will pay $$6$ per share in year $4.$ After year $4,$ the stock will have a constant growth rate or $3\%.$ The required return on the stock is $12\%.$