Question: Consider a firm whose dividend growth is expected to decline gradually. For the next two years, the dividend growth is expected to be 20%. In

Consider a firm whose dividend growth is expected to decline gradually. For the next two years, the dividend growth is expected to be 20%. In the following three years, dividends are expected to grow at 18%,13%, and 10%, respectively. After year 5 , dividends are expected to grow at 5% indefinitely. The firm's most recent dividend ( = DIV 0 ) is $1 per share and the required rate of return for the firm's stock is 10%. What is the price of the stock today

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