Please Answer the Questions in Details

SECTION C (12 marks) CI Compu-Tech computer networks is a fast -growing Communications company did not pay a dividend last year and is not expected to do so for the next two years. Last year the company's growth accelerated, and management expects to grow the business at a rate of 35 percent for the next five years before growth slows to a more stable growth rate of 7 percent for the next several years. In the third year, the company has forecasted a dividend payment of $1.10. Estimate the value of the company's stock at the end of its rapid growth period (i.e, at the end of five years) using required rate of return for such stocks as 17 percent