Risky Casinos Inc. is entering into a $3-$year remodeling and expansion project. The construction will have a limiting effect on earnings during that time, but when completed, it should allow the company to enjoy much improved growth in earnings and dividends. Last year, the company paid a dividend of $$3\mathrm{.}40.$ It expects zero growth in the next year. In years $2$ and $3,5\%$ growth is expected, and in year $4,15\%$ growth. In year $5$ and thereafter, growth should be a constant $10\%$ per year. What is the maximum price per share that an investor who requires a return of $14\%$ should pay for Risky Casinos' common stock?

Answer all of the following:

Year $1$ growth rate

Year $2$ growth rate

Year $3$ growth rate

Year $4$ growth rate

Constant growth rate

Required return

Previous dividend paid

Dividend expected in year $1$

Dividend expected in year $2$

Dividend expected in year $3$

Dividend expected in year $4$

Dividend expected in year $5$

Present value of D$1$

Present value of D$2$

Present value of D$3$

Present value of D$4$

Stock value at end of year $4$

Present value of year $4$ stock value

Stock value today