Your analysis of Yoyodyne Inc. suggests that for the next 4 years, the company will experience an above average dividend growth rate of 1.8%. After that time, the dividend growth rate will fall to its historical average level of 1.4% and remain there indefinitely. If the company just paid a dividend of $1.20 and you require a return of 6.4%, what should current stock price be if it follows the constant growth dividend model?

-please show work using formulas by hand. we cannot use excell on exam. thanks!