Assume that Pear Computer (NYSE: PC) pays no dividends in the first two years. At the end of the third and fourth years, it is expected to pay $1.00 and $2.00 as dividends and establish a dividend growth rate of 10% per year from then on. Using the DDM, compute the current value of PC stock assuming a 15% required rate of return. 1) $15.09 2) $16.44 3) $19.54 04) $22.01 5) $26.96