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The Jackson - Timberlake Wardrobe Co . just paid a dividend of $ 1 . 9 5 per share on its stock. The dividends are

The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.95 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. If investors require a return of 10.5 percent on the stock, what is the current price? What will the price be in three years? In 15 years?
\table[[Current dividend,1.95],[Dividend growth rate,4%
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