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PLEASE ANSWER WITHOUT USING EXCEL FOR PV I NEED TO KNOW HOW TO CALCULATE THIS WITHOUT EXCEL Three-stage DDM 9) A firm has just paid

image text in transcribedPLEASE ANSWER WITHOUT USING EXCEL FOR PV I NEED TO KNOW HOW TO CALCULATE THIS WITHOUT EXCEL

Three-stage DDM 9) A firm has just paid a dividend of $0.55 and is expected to exhibit a growth rate of 9 percent that can continue for only three years, after that its growth will decline linearly for three years to reach the steady state 6 percent growth rate. If the required rate of return is 14 percent, what is the value of the stock? $8.06

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