Q1 (This question covers one of chapter 6 topics) The Arab Bank does not currently pay a dividend. You expect the bank to begin paying a $6 per share dividend during the next 3 years, $7 per share dividend during the next 2 years and $5 per share dividends during the following year, and you then expect dividends to grow perpetually at 6 percent per year thereafter. If the discount rate is 12 percent, how much is the Arab Bank's stock currently worth