Problem:
Investors expected Sam corporation to begin paying dividends, with the first dividend of $1 coming 3 years from today. The dividend grow rapidly at a rate of 50% per year- during Years 4 and 5, the company should grow at a constant rate of 8% per year. If the required return on the stock is 15%.
Required:
Question: What is the value of the stock today?
Note: Please show guided help with steps and answer.