3. ssuming its most recently paid dividend was 30 and the stock's required 5-12 Rondale Clothiers has decided to make significant reinvestments in its operations. As a mult it will be suspending dividend payments for 2 years. It anticipates paying a dividend guin in year in the amount of $0.80 per share. The dividend will then be expected to grow by per year for the following 2 years, then growing at a long run rate of 4 thereafter. If the stock's required return is 115, what is the value of Rosendale's stock at present