Suppose that you believe that, over the next three years, Fledgling Electronics will pay dividends

per share of $$2,$ $$2\mathrm{.}30,$ and $$2\mathrm{.}35$ per share, respectively. The first dividend payment will occur

one year from today. Subsequently, you expect dividends to grow at a rate of $6\%$ per year in

perpetuity. The required interest rate is $9\%.$

a$.$ What should be the current stock price of Fledgling Electronics?

b$.$ You expect to hold the stock for five years then sell it$.$ What will be the stock price five

years from today?