Could I Industries just paid a dividend of $.90 per share. The dividends are expected to grow

Question:

Could I Industries just paid a dividend of $.90 per share. The dividends are expected to grow at a 25 percent rate for the next eight years and then level off to a 7 percent growth rate indefinitely. If the required return is 12 percent, what is the value of the stock today?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...