At the end of the year $2020$ Brown Bear Corporation paid dividends $$3\mathrm{.}01$ per share. The company projects the following annual growth rates in dividends:

Year Growth Rate

$202114\%$

$202214\%$

$202314\%$

$202410\%$

$20256\%$

$20264\%$

From year $2027$ onward growth in dividends is expected to remain constant at $2\%$ per year. The required rate of return for this stock is $10\mathrm{.}17\%.$

Calculate the economic value of the stock now $($end of the Year $2020).$

Your Answer: