NONCONSTANT GROWTH Microtech Corporation is expanding rapidly and currently

needs to retain all of its earnings; hence, it does not pay dividends. However, investors

expect Microtech to begin paying dividends, beginning with a dividend of $$1\mathrm{.}00$ coming

$3$ years from today. The dividend should grow rapidly$-$at a rate of $50\%$ per year$-$during

Years $4$ and $5$; but after Year $5,$ growth should be a constant $8\%$ per year. If the required

eturn on Microtech is $15\%,$ what is the value of the stock today?