Malcolm Manufacturing, Inc. just paid a $$2\mathrm{.}00$ annual dividend $($that is$,$ D$0=2\mathrm{.}00).$ There will be no dividend

payment for the next two years $($i$.$e$.,$ at t $=1$ and t $=2).$ In year three $($t $=3),$ the dividend is expected to be

$$5\mathrm{.}00.$ The dividend will then grow at $10\%$ annually for the next $3$ years $($i$.$e$.,$ at t $=4,$ t $=5$ and t $=6)$ and

thereafter $($i$.$e$.,$ beginning at t $=7)$ dividends will grow at a rate of $2\%$ annually forever. Assuming a required

return of $14\%,$ what is the current price of the stock?