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Quantitative Probiem 3: Assume today is Decenber 31, 2019. Imsgine Waries Inc. yust paid a dividend of 31.15 per share at the end of 2019

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Quantitative Probiem 3: Assume today is Decenber 31, 2019. Imsgine Waries Inc. yust paid a dividend of 31.15 per share at the end of 2019 . The dividend is expected to grow at 15\% per Vebr for 3 years, after which time it is expected to grow of a constant rate of 5% acnuaily. The company's cost of equity ( (9) is 9%. Uking the dividend erowen model (ailowing for at noncenstant growth), what should be the price of the company's stock today (December 31, 2019)? Do not round interimedlate caiculations, Roivid your answer to the nesrez cent

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