The Division Bell Company is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 12 percent a year for the next 3 years and then decreasing the growth rate to 2 percent per year forever. The company just paid its annual dividend in the amount of $1.00 per share. What is the current value of one share of this stock if the required rate of return is 7.00 percent? Multiple Choice $27.68 $26.68 $24.54 $28.12