The Chemist Warehouse is a pharmaceutical company. On its common stocks, the company just paid a dividend of $1.95 per share. The company expects that the dividends will grow at a constant rate of 6 percent per year indefinitely. If you as an investor require an 11% return on The Chemist Warehouse stock, what is the current price? What will the price be in three years? And what will be the price in 15 years?

(Require in step by step calculation)