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The Northwest Athletic Equipment Company has undergone tremendous growth over the past several years. Things are slowing down but they still anticipate a 10% annual

The Northwest Athletic Equipment Company has undergone tremendous growth over the past several years. Things are slowing down but they still anticipate a 10% annual rate in the growth of dividends for each of the next 3 years. In years 4 and 5, 6% growth is expected. In year 6 and thereafter, the company and the market analysts estimate that there will be no further growth. If the required rate of return of the company is 14% and it just paid an annual dividend of $1.9 (D0) per share, estimate a current per share price of the stock.

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