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The management of River Rock Retreat, Inc. (RRR) expects the company dividends to increase by 7 percent per year over the next 3 years and

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The management of River Rock Retreat, Inc. (RRR) expects the company dividends to increase by 7 percent per year over the next 3 years and then to grow at a rate of 4 percent thereafter. The firm currently (that is, as of year 0) pays a dividend of $5.00 per share. The required rate return on RRR stock is 12 percent. What is the expected price of the stock three years from now (i.e., at the point that constant dividend growth is expected to begin)? . > What is the current value of the stock? Please answer all parts of the

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