Problem VA6 - 3 (Equity Valuation) It is now January 1, 2019. Analyst estimates for Abacus Industries suggest that no dividend payments will occur in the foreseeable future. However, Abacus has hinted that it anticipates an annual dividend of $1.00 per share to commence at the year 2022, payable at the end of the year and management further anticipates that the dividend will grow at a continued rate of 8% for each of the two years thereafter, at which point, a more moderate growth policy of 4% is anticipated. If the required rate of return on the stock is 12%, what is the selling price of the stock today