Bretton, Inc., just paid a dividend of $$3\mathrm{.}75$ on its stock. The growth rate in dividends is expected to be a constant $5$ percent per year, indefinitely. Investors require a return of $13$ percent on the stock for the first three years, a rate of return of $11$ percent for the next three years, and then a return of $9$ percent thereafter.

What is the current share price for the stock? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$ I found another expert had answered this using the excel solver function on Chegg, but I don't know the formulas they used to get the values in column C or why they are using PVIF @ $18\%$ in that column. Also