D1=(4*1.15)=4.6
D2=(4.6*1.15)=5.29
Value after year 2=(D2*Growth rate)/(Expected rate-Growth rate)
=(5.29*1.06)/(0.09-0.06)
=186.913333
Hence current price=Future dividend and value*Present value of discounting factor(rate%,time period)
=4.6/1.09+5.29/1.09^2+186.913333/1.09^2
=$165.99(Approx).
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