Dividends per share of $5.50, $6.50, $7.00, $8.00, and $9.00, respectively over past 5 years. These dividends suggest an average annual growth rate in DPS of about 13%. Estimate the current value of the stock using a three-stage DDM with a with a linearly declining growth rate in Stage 2. Assume that stage 1 would last 6 years with a growth rate of 14%, stage 2 would last 10 years, and stage 3 would have growth rate of 10% in perpetuity. Required return on equity for CMCSA is 16%.

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