QUESTION BELOW

Part III: Short-Answer Questions (55 points) Question 1 (15 points) Northern Co. expects to pay a dividend of $1 per share next year, which will grow at 10% for the following 3 years, i.e. the growth rate is sustained from year 1 to year 4. Afterwards, the growth becomes 2%. The cost of capital for Northern Co. is 5%. What is today's share price of Northern Co