in mid$-2018,$ some analysts recommended that General Electric $($GEGE$)$ suspend its dividend payments to preserve cash needed for investment. Suppose you expected GEGE to stop paying dividends for two years before resuming an annual dividend of $$$$1\mathrm{.}251\mathrm{.}25$ per$$ share, paid $33$ years from$$ now, growing by $2\mathrm{.}8\%2\mathrm{.}8\%$ per year. If GEGE$\text{'}$s equity cost of capital is $9\mathrm{.}4\%9\mathrm{.}4\%,$ estimate the value of GEGE$\text{'}$s shares today.

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Part $1$

The value of GEGE$\text{'}$s shares today is $$