This is a practice exam question for course FIN3403 (finance). My professor has provided the answer, but my answer is not matching. An handwritten, step-by-step explanation would be very helpful as I must know how to work the problem by hand without the use of Excel. Thank you!

Your company paid a dividend of $2.00 last year. The growth rate is expected to be 4% for 1 year, 5%

the next year, then 6% for the following year, and then the growth rate is expected to be a constant 7%

thereafter. The required rate of return on equity is 10%. What is the current stock value?