You are considering investing in company XYZ$\text{'}$s shares. Your required retum is $12\%.$ The company has just paid $$5$ of dividend. XYZ$\text{'}$s dividend is supposed to grow at $0\%,$ and $-5\%$ during next $2$ years $($i$.$e$.,$ the gi

$=0\%,$ and g$2=-5\%).$ After year $2,$ the growth rate will be constant at $5\%.$ What is the maximum price you

are willing to pay for each share of

company XYZ$?$