JJS Industries recently paid a $2.62 dividend per share. The dividend of the company is expected to grow by 30 percent next year, 25 percent the following year, and 20 percent the year after before growing at constant rate of 6 percent growth that continue forever. JJS Industries beta is 1.2382, the risk-free rate of interest is 1.6 percent, and the rate of return on market is 10 percent. what is the current stock price of JJS Industries?

-----Use the CAPM Approach-----

Also, show your step-by-step calculations, you must explain in your own words, in three lines, the approach you have used to solve this problem.