You expect a share of stock to pay dividends of $1.00, $1.25, and $1.50 in each of the next 3 years. You believe the stock will sell for $20 at the end of the third year.

a. What is the stock price if the discount rate for the stock is 10%?

b. What is the dividend yield for year 1?

c. What will be the dividend yield at the start of year 2?