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Graded Chapter $9$ Homework

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The Pineapple Company's last dividend was $$1\mathrm{.}75.$ Its dividend growth rate is expected to be constant at $25\%$ for $2$ years, after which dividends are expected to grow at a rate of $6\%$ forever. Its required return is $12\%.$ What is the best estimate of the current stock price?

$$32\mathrm{.}76$

$$63\mathrm{.}28$

$$42\mathrm{.}64$

$$29\mathrm{.}17$

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