Nonconstant Growth ValuationA company currently pays a dividend of $2.25 per share (D0 =
$2.25). It is estimated that the company's dividend will grow at a
rate of 18% per year for the next 2 years, then at a constant rate
of 5% thereafter. The company's stock has a beta of 1.3, the
risk-free rate is 3%, and the market risk premium is 3%. What is
your estimate of the stock's current price? Do not round
intermediate calculations. Round your...