A company is presently enjoying relatively high growth because of a surge in the demand for its new product management expects earnings and dividends to grow at a rate of 34% for the next two years 20.85% in year three and four and after which competition will probably reduce the growth rate in earnings and dividends to constant growth rate of 6.00% the company's last dividend was a $1.75 it's beta is 1.75 the market risk premium is 10.60% and the risk-free rate is 5.25% what is the current price of the common stock