A company currently pays a dividend of 1 per share (D_{0} = $1) It is estimated that the company's dividend will grow at a rate of 18% per year for the next 2 years and then at a constant rate of 7% thereafter. The company's stock has a beta of 1.6, the riskfree rate is 8.5%, and the market risk premium is 4.5%. What is your estimate of the stock's current price? Do not round intermediate calculationsRound your answer to the nearest cent

A company currentiy pays a dividend of $1 per share (O0=$1). It is estimated that the companys dividend will grow at a rate of 1846 per year for the next 2 years and of the stocks current price? Do not round intermediate calculadions, Round rour answer to the nearest cent