\begin{tabular}{|l|l|} \hline Microsoft has a recent dividend of & $4.25 \\ \hline Earnings are expected to grow over the next 4 years by & \\ \hline g1 & 22.0% \\ \hline g2 & 29.0% \\ \hline g3 & 35.0% \\ \hline g4 & 39.0% \\ \hline After the fourth year, earnings will grow by & 8.50% \\ \hline The Required Return is & 14.50% \\ \hline What is the intrinsic Value for the Variable Growth Stock? & \\ \hline Round to 2 decimal places. & \\ \hline \end{tabular}