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SagaTech, Inc. just paid a dividend of $4.00 per share (that is, DO =4.00 ). The dividends of SagaTech are expected to grow at a

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SagaTech, Inc. just paid a dividend of $4.00 per share (that is, DO =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 19 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 . Your

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