Question $9$

ABC common stock is expected to have extraordinary growth of $20\%$ per year for two years,

at which time the growth rate will settle into a constant $6\%.$ If the discount rate is $15\%$ and

the most recent dividend $($DIV $0)$ was $$2\mathrm{.}50,$ what should be the current share price?

$$37\mathrm{.}42$

$$47\mathrm{.}77$

$$31\mathrm{.}16$

$$33\mathrm{.}23$