Ted McKay has just bought the common stock of Cullumber Corp. Management of Cullumber expects the company expects to grow at the following rates for the next three years: 35 percent, 30 percent, and 20 percent. Last year the company paid a dividend of $2.60. Assume a required rate of return of 10 percent.

A.) Compute the expected dividend for the first year. (Round answer to 2 decimal places, e.g. 15.25)

B.) Compute the expected dividend for the second year. (Round answer to 2 decimal places, e.g. 15.25.)

C.) Compute the expected dividend for the third year. (Round answer to 2 decimal places, e.g. 15.25.)

D.) Compute the present value of these dividends if the required rate of return is 10 percent. (Round answer to 2 decimal places, e.g. 15.25.)