P^0=(1+E1)2D1+(1+r2)2D2++(1+E2)2DW+(1+C0)2P^N Basically, this equation caiculotes the present value of aividends received during the nonconstant growth period and the present value of the stock's horizon value, which is the velve of the hortxon date of oll dividends expected thereafter. Quantitative Probiem 3: Assume todoy is December 31, 2019. Imagive Works inc. just paid o dividend of $1.40 per share ot the end of 2019. The dividend is expected to grow at 13% per year for 3 years, anter which time it is expected to grow ot a constant rate of 6% annually. The compeny's cost of equity (f) is 9.5%. Using the divend growth model (allowing for nonconstant growth), what should be the price of the company s stock todoy (December 31, 2019)? Do not found intermediate caloulations. Found your answer to the nearest cent. 5 per shere