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Analysts have predicted that MCR Inc. will pay dividends of $ 2 per share in the first year and $ 3 . 8 per share

Analysts have predicted that MCR Inc. will pay dividends of $2 per share in the first year and $3.8 per share in the third year. After that, the company expects the dividend to increase by 2% per year for the next two years (years 4 and 5). After these two years, dividends will increase by 5% indefinitely. The required rate of return is 12%. What is the value of the stock today?

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