Problem $9\mathrm{.}36$ Supernormal Growth $$ Triton Inc. is expected to grow at a rate of $22$ percent for the next $5$ years and then settle to a constant growth rate of $6$ percent. The company recently paid a dividend of $$2\mathrm{.}35.$ The required rate of return is $15$ percent. a$.$ Find the present value of the dividends during the rapid growth period if dividends grow at the same rate as the company. D$0=$ g$1-5=$ Required Rate of Return $($R$)=$ D$1=$ PV$\_$D$1=$ D$2=$ PV$\_$D$2=$ D$3=$ PV$\_$D$3=$ D$4=$ PV$\_$D$4=$ D$5=$ PV$\_$D$5=$ PV of Dividends $($years $1-5)$: $$ b$.$ What is the value of the stock at the end of year $5?$ Hint: Calculate D$6($expected dividend in year $6)$ and use the constant growth dividend model to estimate P$5.$ Constant Growth Rate $($g$)=$ D$6=$ P$5=$ c$.$ What is the value of the stock today? Hint: Find the present value of P$5$ and add this amount to the present value of the first five years of dividends. PV$\_$P$5=$ Current Price of the Stock $($P$0)=$