I tried doing the question I ask. This is what I came up with.

E(Re) = $2.40 * [1 + 12%] / $36
E(Re) = $2.40 * [1.12] / $36
E(Re) = $2.69 / $36
E(Re) = 0.07472

In a situation where dividends are expected to grow indefinitely at some constant rate, it's common to estimate the stock's value with the model...

P_0 \ = \ \frac{d_1}{r-g} \ where P_0,\ d_1,\ r,\ g\ denote, respectively, the current price, the next expected dividend, the appropriate discount rate, and the expected growth rate. The next dividend d_1 can be expressed as a function of the growth rate g and the most recent dividend d_0 , and so the model can be rendered as

P_0 \ = \ \frac{d_1(1+g)}{r-g} ... which with your knowns becomes

36 \ = \ \frac{2.4(1+g)}{0.12-g}

Solve for g, apply that growth rate to the current price for a 5-year growth period, and call it a day.

Okay, since I can't seem to find an Edit command anywhere, the second instance of the formula above should read

P_0 \ = \ \frac{d_0(1+g)}{r-g} .

My bad.