Question

A stock just paid a dividend of $2.62. The dividend is expected to grow at 25.47%...

A stock just paid a dividend of $2.62. The dividend is expected to grow at 25.47% for two years and then grow at 3.34% thereafter. The required return on the stock is 10.50%. What is the value of the stock?

The answer is $55.11 but not sure how to get that answer. Please show the finance calculator steps if possible! Thanks

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