Please show all work, without excel or calculator

30. A company is a fast growing technology company. The firm projects a rapid growth of 40 percent for the next two years and then a growth rate of 20 percent for the following two years. After that, the firm expects a constant-growth rate of 12 percent. The firm expects to pay its first dividend of $1.25 a year from now. If your required rate of return on such stocks is 20 percent, what is the current price of the stock? A. $30.30 B. $15.63 C. $21.70 D. $22.68 E. $18.06 31. A company projects a rapid growth of 30 percent this year and next year and then a growth rate of 8 percent thereafter. The firm expects to pay its first dividend of $1.25 a year from now. If your required rate of return on such stocks is 20 percent, what is the current price of the stock? A. $14.30 B. $13.63 C. $12.33 D. $10.68 E. $11.06