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Storico Co . just paid a dividend of $ 1 . 6 0 per share. The company will increase its dividend by 2 0 percent

Storico Co. just paid a dividend of $1.60 per share. The company will increase its dividend
by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year
until it reaches the industry average of 5 percent dividend growth, after which the company will
keep a constant growth rate forever. If the required return on the company's stock is 17 percent,
what will a share of stock sell for today? Show steps if possible

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