The Dividend Discount Model

Please note that there is a mistake at 16:28 when I write that 1.122/(0.13 - 0.02) = 12.4666. This is incorrect and should be 10.2.
This of course leads to an error in the end of the example as well. The present value of these dividends should be 10.2/1.13^2 = 7.988, and in the end the value of the stock should be 7.988 + 1.746 = 9.74.