CC Inc. stock recently paid a dividend of $3. The company expects to boost the dividend at a rate of 15% for the next two years. Thereafter, the…

CC Inc. stock recently paid a dividend of $3. The company expects to boost the dividend at a rate of 15% for the next two years. Thereafter, the growth rate is expected to be 5%. The required return on the stock is 12%. What is the expected stock price one year from now just after next year’s dividend is paid? (may ask for price today

CCIInitial Dividend:Years:Growth Rate:Terminal Growth Rate:G2 $3.001-5 G115.00%5.0% Year12 Flows3.4503.968 Terminal Year Discount Rate:(WACC),Expected ReturnsHistoricalGrowth15%15%…