Q1) You are trying to value the stock of Cowbell Inc.You know that the firm only uses dividends to return cash to its investors and you have forecastedthe dividends for the 4 years (see table below). You believe that dividends willgrow at a constant rate of 2% each year after year 4. The cost of equity is 10%. Given this information estimate the share price for Cowbell Inc. Round the answer to two decimals (do not enter the $-symbol in the answer).

Dividend ForecastsYear 1 2 3 4

Dividend per Share (in $) 1.6 1.6 1.5 2.2