10. William's Bakery has been growing at a phenomenal rate of 50 percent per year. You believe this growth rate will last for 4 more years and will then drop to 2 percent per year and remain there indefinitely. What is the current price of the stock if the required return is 11 percent? The company just paid an annual dividend of $1.30.

10. William's Bakery has been growing at a phenomenal rate of 50 percent per year. You believe this growth rate will last for 4 more years and will then drop to 2 percent per year and remain there indefinitely. What is the current price of the stock if the required return is 11 percent? The company just paid an annual dividend of $1.30