continue the solution and expain simply. thank you!

1- XYZ Corp. is experiencing rapid growth. Dividends are expected to grow at 23% per year during the next two years, 12% over the following two years, and then 5% per year, indefinitely. The required return on this stock is 16%, and the stock currently sells for $102 per share. Calculate the dividend that was just paid. (use 5 decimal points in your calculation) Solution: D1=D0(1.23)D2=D0(1.23)2=1.5129D0D3=D0(1.23)2(1.12)=1.69445D0D4=D0(1.23)2(1.12)2=1.89778D0D5=D0(1.23)2(1.12)2(1.05)=1.99267D0