STOCKVALUATION $(14$ POINTS$)$

$3.$ You are thinking about purchasing a share of Rising Sun, Inc.$\text{'}$s stock. The company expects that dividends will grow at $3\%$ indefinitely. The company will distribute a dividend of $$3\mathrm{.}45$ to all shareholders next year. If the required rate of return is $6\%,$ what is the current price of Rising Sun's stock? What will its price be in $6$ years?

Answer: a $$

b