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Nonconstant Dividend Growth Valuation A company currently pays a dividend of $1 per share (D0=$1)....

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Nonconstant Dividend Growth Valuation A company currently pays a dividend of $1 per share (D0=$1). It is estimated that the company's dividend will grow at a rate of 21% per year for the next 2 years and then at a constant rate of 8% thereafter. The company's stock has a beta of 1.6, the risk-free rate is 7.5%, and the market risk premlum is 2.5%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent

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