onconstant Growth Stock Valuation

Assume that the average firm in your company's industry is expected to grow at a constant rate of $7\%$ and that its dividend yield is $8\%.$ Your company is about as risky as the average firm in the industry and just paid a dividend $($D$0)$ of $$1\mathrm{.}25.$ You expect that the growth rate of dividends will be $50\%$ during the first year $($g$0,1=50\%)$ and $20\%$ during the second year $($g$1,2=20\%).$ After Year $2,$ dividend growth will be constant at $7\%.$ What is the required rate of return on your company$$s stock? What is the estimated value per share of your firm$$s stock? Do not round intermediate calculations. Round the monetary value to the nearest cent and percentage value to the nearest whole number.

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