2. Nonconstant DDM Valuation Problems A company currently pays a dividend of $3.25 per share (D = $3.25). It is estimated that the company's dividend will grow at a rate of 21% per year for the next 3 years, then at a constant rate of 7% thereafter. The company's stock has a beta of 1.05, the risk-free rate is 4.5%, and the market risk premium is 6%. What is your estimate of the stock's current price