Problem:
Calculate the price that you would be willing to pay for a 'non-constant growth' stock that has the following characteristics:
- Non-Constant Growth Rate: 22.5% for 3 years,
- Constant Growth Rate: 6%,
- Last Dividend: $2.25, and
- Investor's Required Rate of Return: 11%.
Note: Provide thorough explanation of every question given in the problem.