Vadelay Industries stock is currently trading at $$68$ per share. Vandelay Industries is obligated to pay out $$5\mathrm{.}50$ in dividends for the next three years. Assume investors require a $16\%$ return.

$-$ How much does the market expect Vandelay stock will be worth in $3$ years from now?

$-$ The CEO of Vadelay recently announced they will not pay out dividends for the next $3$ years. After the announcement, the stock price drops to $$38$ per share. How much does the market expect Vandelay stock will be worth in $2$ years from now?

$-$ If you intend on selling Vandelay stock tomorrow, does the CEO$$s announcement impact your investment? Explain.