N r 8-12 Rosendale Clothiers has decided to make significant reinvestments in its operations. As a esult it will be suspending dividend payments for 2 years. It anticipates paving a dividend non again in year 3 in the amount of $0.80 per share. The dividend will then be expected to grow by 20% per year for the following 2 years, then growing at a long run rate of 4 thereafter. If the stocks required return is 115, what is the value of Rosendale's stock at present