1. (15 points) ABC corporation is expected to experience a rapid growth period for two years. During this 2-year period, its dividends will grow at annual rates of 30% and 25% respectively. Afterwards, its dividends will decline at an annual rate of 5% indefinitely due to the fierce market competition. The discount rate is 12%. ABC Corporation just paid an annual dividend per share of $2.00. Calculate the value of the company's stock today