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Welch Corporation just paid its annual dividend of $2

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Welch Corporation just paid its annual dividend of $2.00 per share. The firm is expected to grow at a rate of 15 percent for the next three years and then at 6 percent per year thereafter. The required return of Welch Corp. is 12%. What is the expected price of the stock in one year?

After-tax cash flows from a $100 project are $40 in year one, $80 in year two, and $120 in year three. The ror is 20%. NPV is THE MOST LIKELY TO BE: