All FINAL answers should be stated in 2 decimal places ($/%)

Question 1 (7 marks) A dividend of $4 has just been paid on Stock A. It is expected that the company will increase its dividend by 15% in the first and second year, 12% in the third and fourth year. Starting from Year 5, the company will maintain the dividend growth rate at 6% per year forever. How much would Stock A be worth today if its annual required rate of return is 12%? (7 marks)

PLEASE PROVIDE THE ANSWERS IN WRITTEN FORMAT NOT EXCEL