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YGR Inc. will not pay dividends for 2 years. At year 3 , they will pay a dividend of $ 1 . 5 0 ,

YGR Inc. will not pay dividends for 2 years. At year 3, they will pay a dividend of $1.50, which is expected to grow by 15%, from years 4-6, inclusive. Starting in year 7, the dividend will grow at 4%, indefinitely. If the expected return is 11%, calculate the stock price as of today. What is the limitation(s) of the dividend discount model?

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