8. Joven Novelty Products Inc. has decided that its dividend policy should reflect company growth. They indicate that the first annual dividend they intend to pay will be $2.50 per share 3 years from today. Yearly dividends with then increase at a rate of 6% per year until the end of the 8th year from now and then grow at 3.5% per year therafter. What share price should you pay for such a stock if you expect an effective annual return of 15% per year? bo im w us but not want to