A financial analyst tries to estimate the stock price of Precision Inc. Precision just announced its earnings per share of $$3$ today, but the company currently pays no dividends. The analyst expects Precision$$s earnings to grow at $22\%$ per year in the following five years. After that, the earnings will grow at $5\%$ per year for five years and then slow down to $2\%$ forever. Precision plans to pay out its first annual dividend in $4$ years by distributing $50\%$ of its earnings to shareholders, and the company does not plan to change its payout policy in the foreseeable future. How much is the price of a share of Precision if the discount rate is $12\%($EAR$)?$ Please add steps and answers