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The In-Tech Co. just paid a dividend of $1 per share. Analysts expect its dividend to...

The In-Tech Co. just paid a dividend of $1 per share. Analysts expect its dividend to grow at 25% per year for the next three years and then at a constant growth rate per year thereafter. The estimate of the constant growth rate of dividends is based on the long term return of equity 25% and payout ratio 80%. If the required rate of return on the stock is 18%, what is the current value of the stock? Clearly show the inputs and equations used to drive your answer to get full credits

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JUST WRITTEN IN EXCEL , NO EXCEL FUNCTION IS USED

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