Curry Company is a start-up company in a rapidly growing industry. The company is

planning on increasing its annual dividend by 15 percent a year for the next 4 years and then

decreasing the growth rate to 10 percent per year. The company just paid its annual dividend

in the amount of $1.00 per share. Investors in the market are currently requiring a 16

percent rate of return for similar investments. What is the price of this stock today (P₀).