FinTek Inc. has just paid a dividend of $1.25 per share. The dividends have been growing at a rate of 20% per year, but this growth rate is now expected to decline linearly over the next 7 years to 3%. If the required return is 10%, the value of the stock is $29.02

Assume instead that FinTek Inc. dividends are expected to growth at a rate of 20% annually for the next 3 years, 12% for the following 2 years, and then fall to a constant rate of 3% thereafter. If the required return is 10% and the dividend just paid was $1.25, what is the value of the stock?