{?5] Nonconstant Growth 1Valuation A company currently pays a dividend of $2 per share {Di} = $2}. It is estimated that the company's dividend will grow at a rate of 2% per year for the next 2 years, then at a constant rate of ?% thereafter. The company's stock has a beta of 1.2, the risk-free rate is 15%, and the market risk premium is 4%. What is your estimate of the stock's current price