Consider a stock with dividends that are expected to grow at 18% per year for three years, after which they are expected to grow at 5% per year, indefinitely. The last dividend paid was $3, and k =...

Consider a stock with dividends that are expected to grow at 18% per year for three years, after which they are expected to grow at 5% per year, indefinitely. The last dividend paid was $3, and k = 15%. Calculate the value of this stock using the multistage growth model.