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LCS outdoor has come out with an improved product, and the world is beating a path to its door. As a result, the firm projects

LCS outdoor has come out with an improved product, and the world is beating a path to its door. As a result, the firm projects growth of 30% per year for 3 years. By then, other firms will have copycat technology, competition will drive down profit margins, and the sustainable growth rate will fall to 5%. The most recent annual dividend was $1 per share. If stock investors' required rate of return is 12%, what will be the firm's stock price per share today?

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