The Mintcoin Inc has just paid an annual dividend of 40 cents per share.You forecast that dividends of Mintcoin Inc will grow at the rate of 25% a year over the next four-year period.From year five on, you expect the subsequent growth rate of dividends to decrease to 8%, the industry average

a.Construct the time line, showing dividends of the company.

b.If the required rate of return for the stock is 12%, calculate its price.