4. A company plans to pay no dividends in the next 3 years because it needs earnings to finance new investment projects. The firm will pay a $4.00 per share dividend in year 4 and will increase the dividend by 25% per year for the next 3 years (i.e., year 5 to year 7 ). After that the company will maintain a constant dividend growth rate of 5 percent per year forever. The required return on the stock is 16% per year. Assume that dividends are paid annually. Find the current stock price