1. ABC Inc. will pay its first annual dividend of $3 one year from today. In the second year, the dividend will be $3.5. Dividends for year 3 and year 4 will be $4 and $5, respectively. After that, the dividends will decline at a constant rate of 3% per year till year 8. Thereafter, the dividends will grow at a constant rate of 5% per year forever. If the discount rate used is 10%, what is the stock price of ABC Inc. today?

Please show me by typing it out or hand-writing, I do not use excel to do my work so it will be very complicated for me