Management of Pharoah, a biotech firm, forecasted the following growth rates for the next three years: 35 percent, 28 percent, and 22 percent. Management then expects the company to grow at a constant rate of 9 percent forever. The company paid a dividend of $1.25 last week. If the required rate of return is 17 percent, what is the value of this stock?

Value of Stock? ( Answer is NOT $27.52 or $27.08)

Please show the work. Thank you!!