Micron Technology expects earnings and dividends to grow at a rate of 25% for the next 4 years, after the growth rate in earnings and dividends will fall to zero, i.e., g = 0. The company's last dividend, Do, was $1.25, its beta is 1.20, the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the current price of common stock? O $29.05 O $26.77 O $27.89 O $30.21 O $31.42 L

Micron Technology expects earnings and dividends to grow at a rate of 25% for the next 4 years, after the growth rate in earnings and dividends will fall to zero, i.e., g=0. The company's last dividend, D0. was $1.25, its beta is 1.20 , the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the current price of common stock? $29.05 $26.77 $27.89 $30.21 $31.42