8. XYZ stock is expected to have significant growth in earnings and dividends of 20% per year for 2 years, after which the growth rate will settle into a constant 5%. If the discount rate is 17% and the most recent dividend was $2, what should be the approximate current share price? Show clearly every step of your calculations.

Revise question 8 above in such a way that you could find the intrinsic value using the Dividend Discount Model. Use your own assumptions to modify question 8 and estimate the stock price based on them. Show clearly every step of your calculations.