Question: Your company has just successfully completed some R&D work that leads you to expect that its earnings and dividends will grow at a rate of

 Your company has just successfully completed some R&D work that leads

Your company has just successfully completed some R&D work that leads you to expect that its earnings and dividends will grow at a rate of 48.50% this year, 28.50% next year, after which growth should match the 5.90% industry average growth rate, which is a more sustainable rate. The last dividend paid (Do) was $1.41 and your firm's WACC is 10.32%. What is the value per share of your firm's stock

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