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Grow On, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $6.30. You believe that dividends will grow

Grow On, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $6.30. You believe that dividends will grow at a rate of 18% per year for years one and two, 11% per year for years three and four, and then at a rate of 5% per year thereafter. If you expect an annual rate of return of 20% on this investment, what is the most you would pay for the stock now?

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