price of the stock using growth model:
dividend*(1+ growth rate) / (required rate - growth)
=>1.95*(1+0.045) / (0.11-0.045)
=>$31.35.
current price = 31.35.
price in three years = current price *(1+ growth rate)^number of years
=>31.35*(1.045)^3
=>$35.78.
price in fifteen years = $31.35*(1.045)^15
=>$60.67.
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