1 WTF is expanding rapidly, and it currently needs to retain all of its earnings, hence it does 2 not pay any dividends. However, investors expect WTF to begin paying dividends, with 3 the first dividend D2 coming 2 years from today. The dividend should grow rapidly--at a 4 rate of g3,4 per year-during years 3 and 4. After year 4, the company should grow at a 5 constant rate of g per year. If the required return on the stock is rs, what is the value of the 1 stock today (Po)? 8 INPUT DATA D2 25% 14% $1.81 93,4 3.50% 10 Po 1 WTF is expanding rapidly, and it currently needs to retain all of its earnings, hence it does 2 not pay any dividends. However, investors expect WTF to begin paying dividends, with 3 the first dividend D2 coming 2 years from today. The dividend should grow rapidly--at a 4 rate of g3,4 per year-during years 3 and 4. After year 4, the company should grow at a 5 constant rate of g per year. If the required return on the stock is rs, what is the value of the 1 stock today (Po)? 8 INPUT DATA D2 25% 14% $1.81 93,4 3.50% 10 Po