Question: Please show all work and formulas used. Please complete using excel. Storico Co. just paid a dividend of $1.80 per share. The company will increase

Please show all work and formulas used. Please complete using excel. StoricoPlease show all work and formulas used. Please complete using excel.

Storico Co. just paid a dividend of $1.80 per share. The company will increase its dividend by 20 percent next year and will then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. If the required return on the company's stock is 13 percent, what will a share of stock sell for today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price

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