11) ABC common stock is expected to have extraordinary growth in earnings and dividends of 20% per year for the next 2 years, after which the growth rate will settle into a constant rate of 6%. If the discount rate is 15% and the most recent dividend (Do) was $2.50, what should be the approximate intrinsic value (i.e. fair value) of ABC common stock? [Hints :Super-growth model: You may follow the three-step procedure suggested in the Homework Assignment (II).] A) $47.77 B) $33.23 C) $31.16 D) $27 20