Question: Roger works for a rapidly growing company that is planning on distributing annual dividends that will increase about 18% annually for the next 4 years. After those 4 years, when the company predicts its business will be growing at a much slower pace, the company plan is to grow its dividends only at 3% annually. The company just paid its annual dividend in the amount of $2.50 per share. What is the current value of one share of this stock? Assume a required rate of return of 8%?