Question 9 (1 point) Saved Pames Industries expects to pay a $3.00 per share dividend on its common stock at the end of the year (D,= $3.00). The dividend is expected to grow 25 percent a year until t = 3, after which time the dividend is expected to grow at a constant rate of 5 percent a year (i.e., D3 = $4.6875 and D4 = $4.9219). The stock's beta is 1.2, the risk-free rate of interest is 6 percent, and the rate of return on the market is 11 percent. What is the company's current stock price? $53.69 $37.29 $59.05 $30.64 $29.89