Cojective, Inc just paid a dividend of $7.72 per share (that is, D. = 7.72). Investors expect this dividend to grow at 25% next year (i.e., in year 1) and at 15% the following year (i.e., in year 2). Thereafter, dividends are expected to grow at a constant rate of 5% forever (i.e., for year 3,4,5......0). If the required rate of return on this stock is 16.1%, the equilibrium price of the stock should be $_