Stock with Dividend Growth II

Consider a stock issued by a start$-$up company. To focus on growing the business, the company will not pay

any dividend until year $3.$ It plans to pay the first dividend of $$0\mathrm{.}2$ per share in year $4$ and the next dividend

of $$0\mathrm{.}3$ per share in year $5.$ Since then, the dividend will grow at $10\%$ per year. The required return on stock

is $12\%,$ and the risk$-$free rate is $3\%.$ What is the current stock price?