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The Jackson–Timberlake Wardrobe Co. just paid an annual dividend of $1.20 per share on its stock. The annual dividend is expected to grow at a constant rate of 4 percent per year indefinitely. Investors require a return of 10 percent on the company's stock. What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current price $ What will the stock price be in three years? Hint: You need to calculate the capital gain rate. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price $ What will the stock price be in 10 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price $

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