Anderson Corporation just paid a dividend of $3.65 per share. The company will increase its dividend by 20% next year and will then decrease its dividend growth rate by 5% per year until it reaches the industry average of 5% dividend growth rate. After that, the company will keep a constant 5% rate forever. The required return on the Anderson stock is 12%.

1. Show the time line with dividends for the next 7 years.
2. What is the price per share today?
3. What is the companys present value of growth opportunities (PVGO)?