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Type 3C: Lite Electronics has come out with an improved product, and the world is beating a path to its door. As a result, the

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Type 3C: Lite Electronics has come out with an improved product, and the world is beating a path to its door. As a result, the firm projects its earnings and dividend growth of 20% per year for 4 years. By then, other firms will have copycat technology, competition will drive down profit margins, and the sustainable earnings and dividend growth rate will fall to 58. The most recent annual dividend was $2 per share. What should be the stock price today? Assume that the required rate of return for this stock is 10%

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