24. You applied for an Equity Analyst position with Goldman Sachs after graduating from College of Charleston. As part of the evaluation process, you have to take a test on stock valuation covering the following questions: Vineyard Vines Company just paid a dividend to dividend of $2.25 per share. The company expects the coming year to be very profitable, and its dividend is expected to grow by 15% over the next year. However, after next year Vineyard Vine's dividend is expected to grow at a constant rate of 2% per year. The risk-free rate is 4.25%, the market risk premium is 7.0%, and Vineyard's beta is 1.2 . What is the price of the stock at time 1,P1 ? a) $28.46 b) $24.78 c) $76.83 d) $45.33 e) $40.67