6. (10 points) EPG, Inc. announced today that their next annual dividend will be $1.60 per share. After that dividend is paid, the company is going to suspend dividends for 5 years after which a constant dividend of $0.70 share will be paid annually. The market rate of return on this stock is 14 percent. What is the current value of this stock given this announcement? [Use of a timeline is strongly recommended.]