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AVZ is a start-up company who is using all its cash to growth so it does not plan to pay dividends for the next 6

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AVZ is a start-up company who is using all its cash to growth so it does not plan to pay dividends for the next 6 years. The company then plans to start paying annual cash dividends starting in year 7 of $6.00 for 16 years. Thereafter, the company will assume a constant growth dividend policy and the estimated growth rate in dividends forever after that point is 4%. The price of the stock is set to yield a return of 12%. What is the price of this stock today? The price today is $ (Do not use $ sign. Use commas to separate thousands. In this answer, please use TWO decimals in your response and round to the nearest cents. For example if your answer is $1,110.283 then enter 1,110.28)

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