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Ackert Company's last dividend was $4.75. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected

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Ackert Company's last dividend was $4.75. 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 8.0% forever. The firm's required return (r3) is 12.0%. What is the best estimate of the current stock price? Do not round intermediate calculations. a) $112.40 b) $122.62 C) 590.83 d) $128.30 e) $113.54

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