Triangular Co. will pay a dividend of $3.25 per share, today. The company will continue to pay dividends on a yearly basis, and increase its dividend by 12 percent per year for the next 5 years. After that, the expected dividend growth rate will be negative 3 percent per year forever. If the required return on Triangular stock is 8 percent, and a stock's share price is equal to the PV of all remaining dividend payments, what will a share of Triangular Co. sell for immediately before the dividend is paid? What will the price of the stock be right after the dividend is paid?

Please show manual steps and calculations. Please do not use excel. Thanks!