Grow On, Inc, is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $8.10. You believe that dividends will grow at a rate of 24% per year for two years, and then at a rate of 6% per year thereafter. You expect the stock will sell for $44.01 in two years. You expect an annual rate of return of 21% on this investment, If you plan to hold the stock indefinitely, what is the most you would pay for the stock now? $83.27 $66.49 $46.86 $56.15 $76.92 You are considering buying common stock in Grow On, Inc. You have calculated that the firm's free cash flow was $3.10 million last year. You project that free cash flow will grow at a rate of 7.0% per year indefinitely. The firm currently has outstanding debt and preferred stock with a total market value of $14.67 million. The firm has 2.07 million shares of common stock outstanding. If the firm's cost of capital is 16.0%, what is the most you should pay per share for the stock now? $10.72 $17.81 $36.86 $22.19 $40.27