Q$2.$

Binford Tools paid a quarterly dividend of $$2\mathrm{.}50$ per share on December $31.$ Dividends are paid each quarter. Dividend amounts grow $2\mathrm{.}00\%$ per quarter Binford's cost of equity is $15\%$ per year $($EAR$).$ What would be the price of one share of Binford's stock on January $01?$