Church Inc. 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 4 years, after which competition will probably reduce the growth rate in earnings and dividends to zero, i.e., g-o. The company's last dividend, Do. was $1.10, its beta is 1.60, the market risk premium is 5.50%, and the risk-free rate is 2.90%. What is the current price of the common stock? Do not round intermediate calculations. a $27.65 b. $26.55 $29.66 d. $27.38 e. $25.67