Check My Work (9 remaining) eBook Nonconstant Growth Valuation A company currently pays a dividend of $2.6 per share (Do = $2.6). 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 5% thereafter. The company's stock has a beta of 1.8, the risk-free rate is 7.5%, and the market risk premium is 3%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent. $