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2. You are attempting to value Vulcan Corp. using a multi-stage dividend discount model. The firm just paid a dividend of $2 and you have

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2. You are attempting to value Vulcan Corp. using a multi-stage dividend discount model. The firm just paid a dividend of $2 and you have made projections of their forward-looking growth. You predict that the firm will grow by 7% for the next 3 years, 5% for years 4 and 5, and for 3% thereafter. If the market capitalization rate for Vulcan Corp. is 8%, what is the price of the stock today

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