Fourth-Sixth-Twelfth Bank currently pays an annuall dividend of $1.40 per share. After extensive analysis, you forecast that the Bank's stock will continue to pay the $1.40 dividend for four years. In year 5, the dividend will increase to $1.60 per share. The dividend will remain at $1.60 untill year 12. In year 12, the dividend will increase to $1.72 per share. Subsequently the dividend will grow at an annual rate of 1.2% The following chart shows the dividend stream: time 0 1 2 3 4 5 6 7 8 9 10 11 12 $1.40 $1.40 $1.40 $1.40 $1.60 $1.60 $1.60 $1.60 $1.60 $1.60 $1.60 $1.72 Calculate the fundamentall value of a share of Fourth-Sixth-Twelfth stock if the appropriate discount rate is 7% per year. 1.2% growth