10. (10 pts) Microsoft (MSFT) just received a substantial government grant that is expected to increase their growth to an abnormal level over the next four years. Analysts believe this will help MSFT grow at an abnormal rate of 10.85% per year during this three 4 year time period. Following this period it is expected that MSFT will return to a normal growth rate of 5.4% per year. The current risk-free rate is 2.75%, the market risk premium is 7.45%, and BMSiT is 1.22. MSFT paid $6.35 in annual dividends over the past year. What is the current value of MSFT using the Non-constant Growth Model