eBook Problem Walk-Through Problem 7-12 Nonconstant Growth Stock Valuation Assume that the average firm in your company's industry is expected to grow at a constant rate of 7% and that its dividend yield is 8%. Your company is about as risky as the average firm in the industry and just paid a dividend (Do) of $2.25. You expect that the growth rate of dividends will be 50% during the first year (90,1 = 50%) and 25% during the second year (91,2 = 25%). After Year 2, dividend growth will be constant at 7%. What is the estimated value per share of your firm's stock? Do not round intermediate calculations. Round your answer to the nearest cent. =