Snyder Computer Chips Inc. is experiencing a period of rapid growth.

Snyder Computer Chips Inc. is experiencing a period of rapid growth. Earnings anddividends are expected to grow at a rate of 15% during the next 2 years, at 13% inthe third year, and at a constant rate of 6% thereafter. Snyder’s last dividend was$1.15, and the required rate of return on the stock is 12%.a. Calculate the value of the stock today.