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15. Jermaine is a star stock analyst and has been researching MMK Inc. for quite some time. He decides to write a report quoting what he expects the stock price should be for the firm. Below are the inputs that Jermaine is planning to use to value the stock of the firm. To calculate the required return on equity Jermaine decides to use the famous CAPM model. Using historical data, he estimates that the firm's common stock has a beta of 1.60. Further, he predicts that the expected return on the market will be 12% and the risk- free rate, will remain the same at 3%. . MMK just paid a dividend of $3.00. Since it is a growing firm, Jermaine expects that the dividends will have a higher growth rate of 25% for the next two years and then 30% for the third year. After that, he expects the dividend to stabilize and grow at 4% forever. Using the above information, Jermaine has calculated the stock prices of the firm that is a. 37.15 D. 39.59 c. 30.02 d. 35.31 e. 38.65