Sallie Mae Clothing is in the process of selling its peripheral businesses and returning to a pure clothing store. In conjunction with this reorganization, the dividend will be decreased by 20 percent in each of the next 2 years. After that, the dividend will resume its historical pattern of 3 percent annual increases. The required return on this stock is 10 percent and the last dividend paid was $3 a share. What is one share of this stock worth today.

Plz show equations used :)