21). Suppose a company is expected to grow at 25% for the next two years and then will have a constant growth of 8%. The company paid dividends of $0.75 this year. If the required rate of return is 10%, what is the value of the stock at the end of the second year? a) $46.88 b) $47.24 c) $63.28 d) $73.24

21). Suppose a company is expected to grow at 25% for the next two years and then will have a constant growth of 8%. The company paid dividends of $0.75 this year. If the required rate of return is 10%, what is the value of the stock at the end of the second year? a) $46.88 b) $47.24 c) $63.28 d) $73.24