Microsoft Corporation is expanding rapidly, and it currently needs to retain all of its earnings, hence it does not pay any dividends. However, investors expect Microsoft to begin paying dividends, with the rst dividend of $7.00 coming 2 years from today. The dividend should grow rapidlyat a rate of 50 percent per yearduring Years 3 and 4. After Year 4, the company should grow at a constant rate of 7 percent per year. If the required rate of return on the stock is 10 percent, what is the value of the stock today? (5 marks)

Need it with formulas