Question: Morgan Company's last dividend (Do) was $2.60. Its dividend growth rate is expected to be constant at 24% for 2 years, after which dividends

Morgan Company's last dividend (Do) was $2.60. Its dividend growth rate is expected to be constant at 24% for 2 years, after which dividends are expected to grow at a rate of 6% forever. If the company's required return is 12%, what is your estimate of its current stock price? Your answer should be between 18.40 and 78.16, rounded to 2 decimal places, with no special characters. I

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