with the process please

Your garage start-up is growing nicely but your early shareholders (grandma and grandpa) want to know when they will get paid. The company earned $1.57 per share in the year that just ended (year O) and you reinvested all of it to fund growth opportunities that promise to return 44.0% next year. In a year, you promise to payout 11.0% and invest the rest for more growth, projected to be 22.0%. You will raise the payout ratio to 55.0% and keep it there. In all subsequent years return on investment will stay at 8.0%. The expected dividend per share for year 1 is $ The expected dividend per share for year 2 is $ Assuming a cost of equity of 11.8% throughout, what is the fair value of your company's shares today? $