Q$16)$

Ewha Corp is a new firm in a rapidly growing industry. The company is planning

on increasing its annual dividend by $33$ percent a year for the next$3$years and

then decreasing the growth rate to$5$percent per year. The company just paid its

annual dividend in the amount of $1\mathrm{.}0$ per share. What is the current value of one

share of this stock if the required rate of return is $15$ percent?