Please no excel answers.

3. Holyrood Co. just paid a dividend of $2.15 per share. The company will increase its dividend by 10% next year and will then reduce its dividend growth rate by 2 percentage points per year until it reaches the industry average of 4% dividend growth, after which the company will keep a constant growth rate forever. If the required return on Holyrood stock is 11%, what will a share of stock sell for today? (6 marks)