Everest 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 27% for the next 2 years, 18.00% in the year 3 and 4, and after which competition will probably reduce the growth rate in earnings and dividends to constant growth rate of 5.00%. The companys last dividend was $1.90, its beta is 1.25, the market risk premium is 7.75%, and the risk-free rate is 4.75%. What is the current price of the common stock? (Ans. $37.03)