Agarwal Technologies was founded 10 years ago. It has been profitable for the last 5 years, but it has needed all of its earnings to support growth and thus has never paid a dividend. Management has indicated that it plans to pay a $o.25 dividend 3 years from today, then to increase it at a relatively rapid rate for 2 years, and then to increase it at a constant rate of 8.00% thereafter. Management's orecast of the uture dividend stream, along with the forecasted growth rates, 1s shown below. Assuming a required return of 11.00%, what is your estimate of the stock's current value? Year Growth rate Dividends 10 NA 4 30.00% NA NA NA 15.00 % 8.00% 0.000 $0.000 $0.000 .250 $0.325 $0.374 $0.404