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SagaTech, Inc. just paid a dividend of $ 4 . 0 0 per share ( that is , D 0 = 4 . 0 0

SagaTech, Inc. just paid a dividend of $4.00 per share (that is,D0=4.00). The dividends of SagaTech are expected to grow at a rate of 20 percent next year (that is,g1=.20) and at a rate of 10 percent the following year (that is,g2=.10). Thereafter (i.e., from year 3 to infinity) the growth rate in dividends is expected to be 5 percent per year. Assuming the required rate of return on SagaTech, Inc. stock is 10 percent, compute the current price of the stock.
Record your answer as a dollar amount rounded to 2 decimal places, but do not include a dollar sign or any commas in your answer. For example, record $18,124.24985 as 18124.25.
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