Problem:
ProCor, a biotech firm, forecasted the following growth rates for the next three years: 35 percent, 28 percent, and 22 percent. The company then expects to grow at a constant rate of 9 percent forever. The company paid a dividend of $1.54 last week.
Required:
Question: If the required rate of return is 17 percent, what is the value of this stock?
Note: Please provide full description.