Please use below (answers from Q1 & 2) to complete #3.

1) Required rate of return for Apple Stock =32.50% 2) Sustainable Growth rate =1.36% 3. Apple plans to initiate a \$2 dividend/share next quarter. Apple plans to make the 2nd dividend 10% greater than the 1 st, the 3rd dividend 9% greater than the 2 nd, the 4th dividend 8% greater than the 3rd and so on until they hit a steady state quarterly dividend growth rate of 1%. Using this information, the required rate of return from Q1 and the sustainable growth rate from Q2, what is the intrinsic value of Apple stock (per share)