If instead, we assume that Apple will grow at 15% in the next 2 years, then drop down to 10% in the 3rd year, and finally reach a steady growth rate of 3%. If the cost of capital is 15% and this years dividend is $4, what is a fair price of Apple?

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Growth Rate ___

Cost of Capital ___

D0 ___

D1 ___

D2 ___

D3 ___

D4 ___

Price ___