Valuation of LSB Issue of stocks

LSB is currently generating $42,500 of after-tax cash flow. Based on a review of similar risk investment opportunities, CAL feels that it must earn 18 percent rate of return on the proposed purchase - as future cash flows are uncertain. CAL is trying to determine the value of LSB using a few growth assumptions for cash flow. LSB has 100,000 common shares outstanding.

Required: Determine the value of LSB if:

1. Cash flow is expected to remain at the current level - now to infinity
2. The cash flows are expected to grow at 6 percent to infinity
3. The cash flows are expected to grow at a rate of 12% per year for the first

3 years followed by a constant growth rate of 8% in year 4 to infinity?