Shell is experiencing rapid growth. Earnings and dividends are expected to grow at a rate of 15% during the next 2 years, at 13% the following year, and at a constant rate of 6% during Year 4 and thereafter. Its last dividend was $1.15, and its required rate of return is 12%.

b) Find the PV of the firms stock price at the end of Year 3.

f) Calculate the dividend and capital gains yields for Years 1, 2, and 3.

Dividend Yield Year 1 = %

Capital Gains Yield Year 1 = %

Dividend Yield Year 2 = %

Capital Gains Yield Year 2 = %

Dividend Yield Year 3 = %

Capital Gains Yield Year 3 = %