Helen Morgan has been asked to use the dividend discount model to determine the value of Sundanci, Inc. Morgan anticipates that Sundancis earnings and dividends will grow at 32% for two years and 13% thereafter.

1. Calculate the current value (at the end of 2022) of a share of Sundanci stock by using a two-stage dividend discount model and the data is from the above tables.

Income statement 2020 2021 2022 379 294 474 368 20 86 0 598 460 23 115 16 69 0