The Evil Twins Corporation announced of its plans to pay:

• $2 dividend per share in 1 year,
• $4 dividend per share in 2 years,
• $6 dividend per share in 3 years,

after which the dividend will be increasing at a constant annual growth rate of 6 percent. The rate of return for this company is 11%. Calculate the value of one share of stock of this company.

(a) Part of the calculation will be finding the Present Value of a ordinary annuityannuity dueregular perpetuitygrowing perpetuity$2$4$6$87.74$92.79$97.39$102.44$113.71 with the first dividend being $ ordinary annuityannuity dueregular perpetuitygrowing perpetuity$2$4$6$87.74$92.79$97.39$102.44$113.71 (given).

(b) The final numerical answer to this problem is $ ordinary annuityannuity dueregular perpetuitygrowing perpetuity$2$4$6$87.74$92.79$97.39$102.44$113.71. (Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 100.23.)