Problem 3: Pricing common stock won-constant growth dividends The Vintage Denim Corporation just paid a dividend of $1.25 to its common shareholders and announced that it expects the dividend to grow by 25% per year for the next 3 years. Then, the dividend is expected to drop to a growth rate of 16% for an additional 2 years, after which it expects the dividend to converge with the industry median growth rate of 8% per year. If investors are expecting 12% per year on Vintage Denim's stock, calculate the current stock price