Bayboro sails is expected to pay dividens of $2.50, $3.00 and $4.00 in the next three years that is D1=2.50 D2=3.00 and D3=4.00, respectively. After three years the dividend is expected to grow at a constant rate of 4% per year indefinitely. Stock holders require a return or 14% to invest in Bayboro's common stock. Compute the value of Bayboros common stock today.