GDL just paid a dividend of $2.84 per share. You expect dividends to grow 15% for the next 3 years, 8% the year after that, and then grow at 3% per year forever.

If the required return is 11%, what is the price of the stock today?

Keep at least 4 decimals in all of your calculations.

Round your final answer to 2 decimal places, for example $10.12.

ANSWER IS 51.78, PLEASE SHOW WORK AND BE DETAILED, need to know how to solve this problem! Thanks.