1.) Jim recently took his company public through an initial public offering. He is expanding the business quickly to take advantage of an otherwise unexploited market. Growth for his company is expected to be 10 percent for the first 3 years, 5% the year after and then he expects it to slow down to a constant 2 percent. The most recent dividend (D0) was $2. Based on the most recent returns, the beta for his company is approximately 1.2. The risk-free rate is 4 percent and the expected return to the market is 10 percent. What is the current price of Jims stock?