8 -13

The XYZ Corporation is expected to grow at a rate of 30% for the next two years and then settle at the industry median constant growth rate of 10%. If the company's last paid dividend was $1.50 per share, and the required rate of return is 15%, how much is the stock worth today? (Round your intermediate calculations and final answer to two decimal places) $65.91 $44.01 $55.77 $13.00