3. Some investors expect Endicott Industries to have an irregular dividend pattern for several years, and then to grow at a constant rate. Suppose Endicott has D0 = GHC 2.00; no growth is expected for 2 years (g1 = 0); then the expected growth rate is 8 percent for 2 years; and finally the growth rate is expected to be constant at 15 percent thereafter. If the required return is 20 percent, what will be the value of the stock?