Tipton's stock has a required return of 12%, and the stock sells for $40 per share. The firm just paid a dividend of $1.00, and the dividend is expected to grow by 30% per year for the next 4 years, so D4 = $1.00*(1.3)⁴ = $2.8561. After t = 4, the dividend is expected to grow at a constant rate of 5% per year forever. What is the stocks current true value. Should you long-or-short this security? What return would you expect to obtain from your trade if the stock reverts to the correct price over a 2-year period? What type of a position is this (speculative, value capturing, growth capturing, arbitrage, broker-dealer exchange spread)?