Hi can you please help me understand how to work through this question? Thank you

(Multistage common stock valuation) You just got hired at an investment management firm, where you

will be performing equity research. You are told to make a recommendation for a company of your

choice to be presented to the partners for evaluation. Tool Mania catches your attention as a possible buy.

The company just paid an annual dividend of $3.75 per share. You project dividend growth of 10% for the

next 5 years in par with revenue growth. After that you project the company will grow at the equivalent of

GDP at 3% forever. The company uses a fixed required rate of return at 15%. At which stock price will

you issue a buy recommendation for this company?