Answer: 6 years
Step-by-step explanation:
The Dividend Discount model allows us to calculate the value of a stock today given the dividend that it will pay next year as well as a constant rate of growth and a cost of capital.
As of the 7th year, the company will start paying dividends at a constant growth rate so using the Dividend discount model, the value of the stock can be calculated 6 years from the present.
That value can then be discounted to find out the present value.