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Ackert Company's last dividend was $3.75. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected

image text in transcribed Ackert Company's last dividend was $3.75. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 10.0% forever. The firm's required return (rS) is 16.0%. What is the best estimate of the current stock price? Do not round intermediate calculations. a. $61.51 b. $67.67 c. $58.79 d. $51.53 e. $62.54

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