A company currently pays a dividend of $2.00 per share (i.e., D₀=$2.0). It is estimated that company's dividend will grow at a rate of 20% per year for the next three years, and the the dividend will grow at a constant rate of 0% (not 4%) thereafter. The company's stock has a beta of 1.5, the risk-free rate is 6%, and the market return is 12.50%. What is your estimate of the company's stock price today (i.e., P₀)?

	1.	$21.904
	2.	$20.572
	3.	$30.67
	4.	None of the answers given are correct