Wildhorse Natural Foods' current dividend is $9.50. You expect the growth rate to be 0 percent for years 1 to 5, and 2 percent for years 6 to infinity. The required rate of return on this firms equity is 8 percent.

a) Determine the expected dividend at the end of year 5. ANS: $9.50

b) Determine the expected dividend at the end of year 6. ANS: $9.70

c) Determine the expected price of the stock at the end of year 5 (immediately after the year 5 dividend). ANS: $161.50

d) Determine the price of the stock today. ANS: ???

*just part d)

*With steps (no Excel)

Thanks!!