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Nachman Industries just paid a dividend of $ 1 . 2 5 . Analysts expect the company's dividend to grow by 3 0 % this

Nachman Industries just paid a dividend of $1.25. Analysts expect the company's dividend to grow by 30% this year, by 11% in Year 2, and at a constant rate of 2% in Year 3 and thereafter. The required return on this stock is 8%. What is the best estimate of the stock's current market value?
$29.34
$26.82
$27.84
$24.83
$24.34
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