Sam is considering buying a share with the following expected dividends: Time (yrs) Dividend (S) 0 2.00 1 2.10 2 2.15 The dividend is expected to grow by 1% pa in perpetuity after Year 3. Therefore: . The dividend at t=4 will be $2.20(1+0.01) . The dividend at t=5 will be $2.20(1+0.01)^2, and so on. 3 2.20 1 Shareholders' required return is 5% pa. The required return and the growth rate are effective annual returns. Calculate the price of the stock in two and a half years (t=2.5)