Phillips, Inc. just paid a dividend of $$3\mathrm{.}25$ per share on its common stock $($that is$,$ D$0=3\mathrm{.}25).$ Investors expect

the dividend to grow at $45\%$ in years $1$ and $2,$ they expect the dividend to grow at $30\%$ in year $3$ and they

expect that all future dividends $($that is$,$ dividends in years $4,5,...,$ infinity$)$ to grow at a constant rate of $4\%$

per year. If the cost of capital for Phillips, Inc. stock is $18\%,$ what is the current price of the stock?