Rocking technologies (RT) have just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the market. As a result, RT is expected to experience a 15% annual growth rate for the next 5 years. By the end of 5 years, other firms will have developed comparable technology and RTs growth rate will slow to 5% per year indefinitely. Stockholders require a return of 6% on RTs stock. The most recent annual dividend (D₀) which was paid yesterday was $2.55 per share

1. 1. What are the expected dividends for years 1 to 5?
   2. What is the intrinsic value of the stock (P₀)?