Back to Assignment Attempts 0 Keep the Highest 0/1 11. Problem 7-09 (Nonconstant Dividend Growth Valuation) eBook Nonconstant Dividend Growth Valuation A company currently pays a dividend of $3.8 per share (Do = $3.8). It is estimated that the company's dividend will grow at a rate of 22% per year for the next 2 years, and then at a constant ra of 7% thereafter. The company's stock has a beta of 1.3, the risk-free rate is 9.5%, and the market risk premium is 5.5%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent. $ Grade it Now Save & Continue Continue without saving