Walmart has just paid an annual dividend of $3.73. Dividends are expected to grow by 7% for the next 4 years, and then grow by 5% thereafter. Walmart has a required return of 9%.

Part 1. What is the expected dividend in four years?

Part 2. What is the terminal value in four years (P4)?

Part 3. What is the value of the stock now?

Please solve using a financial calculator and explain the steps.