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Storico co. just paid a dividend of $3.85 per share. The company will increase its dividend by 20 percent next year and will then reduce

Storico co. just paid a dividend of $3.85 per share. The company will increase its dividend by 20 percent next year and will then reduce its dividend rate by 5 percentage per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth forever. If the required rate on Storico stock is 13 percent per annum, what will a share of Storico's stock sell for today ?

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