Question: Please solve and provide step by step instructions. if there is a formula needed, please identify and provide Doc Brown, Inc. just paid a dividend

Please solve and provide step by step instructions. if there is a formula needed, please identify and provide

Doc Brown, Inc. just paid a dividend of D₀ = $1.21. Analysts expect the company's dividend to grow by 23% this year, by 23% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 14%. What is the best estimate of the stocks current market value, $ xxx.xx, no $ sign?

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