Next year a stock is paying a dividend of D1 = $3.75/year. This dividend is expected to grow at: g1 = 20%/year for the next 2 years after that (i.e., Years 2 & 3); at g2 = 10% for one year (i.e., Year 4), and then at a constant rate of gL = 5% thereafter (i.e., Year 5 to infinity). Assume required rate of return r = 12%. What is the value of this stock? Carry you dividend decimals out to 3 places. $63.38 $68.43 $71.18 $74.28 $77.86