2. A particular company currently has sales of $250 million; sales are expected to grow by18% next year (year 1). For the year after next (year 2), the growth rate in sales is expected to equal 9%. Over each of the next two years, the company is expected to have a net profit margin of 8% and a payout ratio of 50% and to maintain the common stock outstanding at 15 million shares. The stock always trades at a P/E of 14 times earnings, and the investor has a required rate of return of 20%. Given this information, find the stock's intrinsic value (its justified price)