8. Problem 7-09 (Nonconstant Dividend Growth Valuation) eBook BD Nonconstant Dividend Growth Valuation A company currently pays a dividend of $1.8 per share (0 - $1.8). It is estimated that the company's dividend will grow at a rate of 17% per year for the next 2 years, and then at a constant rate of 8% thereafter. The company's stock has a beta of 1.2, the risk free rate is 9.5%, and the market risk premium is 6.5%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent