Suppose 3M is currently trading for $142.28 per share. The company is expected to pay the following annual dividends on its common stock over the next 3 years: $1.2, $1.5, and $2.3 at the end of year 1, 2, and 3 respectively. Find the expected price (ex-dividend) for 3Ms stock in 3 years from today just before the last dividend is paid if their expected return is estimated to be 11.82% per year (hint: the 11.82% percent is not a holding period return).

The answer that was given was 204.41 but I'm not sure how to get there.