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ACME company just went IPO. ACME won't pay a dividend for the first 3 years, then expects to pay a $ 8 dividend at the

ACME company just went IPO. ACME won't pay a dividend for the first 3 years, then expects to pay a $8 dividend at the end of the fourth year. The dividend will then grow rapidly by 25% for the next 2 years. Dividends will then grow by 5% per year forever. If investors require a 14% rate of return, what is the stock price of ACME company today?
Question 17 options:
90.98
92.98
94.98
98.98
96.98

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