1) What is the value today of KTS stock if it grows at 10% for 5 years, then 8% for 3 years, then 6% for 2 years and then grows at 5% thereafter?

DO 2 POL 43.19 Cost of equity 12% 10% g1 01 2.20 92 10% 2.42 g3 10% 2.66 94 10% D4 2.93 10% 3.22 10% D6 3.54 g7 10% DZ 3.90 98 10% 4.29 g9 10% 4.72 g10 10% D10 5.19 5% P10 77.81