Management of Cullumber, a biotech firm, forecasted the following growth rates for the next 3 years: 35%, 28%, and 22%. Management then expects the company to grow at a constant rate of 9% forever. The company paid a dividend of $1.50 last week. If the required rate of return is 17%, what is the value of this stock?

THE ANSWER IS 32.62 AND I HAVE TO USE Excel financial formulas of PV and NPV when possible.

Thank you.