PSO will only begin to pay a dividend 08 years from now. The expected annualized dividend at the end of year 08 will be $30 per share. This dividend is expected to grow at a rate of 9% over the next 4 years and will then taper off to a steady 7%, a rate at which it is assumed to grow forever. Using a discount rate of 12% and assuming PSO is currently trading at $100 per share, what would be your long-term recommendation for this stock: buy, sell, or hold?