You are considering buying a stock that is expected to pay a

dividend of $$2\mathrm{.}25$ per share in $1$ year, $$2\mathrm{.}65$ in $2$ years, and $$3\mathrm{.}12$

in $3$ years. After year $3$ the dividend grow at $5\%$ per year. Assuming

the required rate of returns is $11\%$ how much are you willing to pay

for the stock $?$