Problem:
One year from today, investors anticipate that Groningen Distilleries, Inc., stock will pay a dividen of $3.25 per share. After than, investors believe that the dividen will grow at 20% per year for three years before settling down to a long-run groth rate of 4%. The required rate of return on Groningen stock is 15%.
Required:
Question: What is the current stock price?