You expect GDX Corp to pay a dividend of $2/share next year (Year 1); $2.14/share in Year 2; $2.28/share in Year 3; and $2.44/share in Year 4. You also believe the stock will trade in the market at $120/share at the end of Year 4.

a. Draw a timeline for GDX per your expectations assuming all cash flows occur at the end of each year.

b. You have estimated GDX Corp's Cost of Equity to be 9.2%. Using your timeline, estimate what GDXs stock should be trading at now.