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Nachman Industries just paid a dividend of D0=$1.50. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and

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Nachman Industries just paid a dividend of D0=$1.50. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 4% in Year 3 and thereafter. The required return on this low-risk stock is 7.00\%. What is the best estimate of the stock's current market value? Do not round intermediate calculations. a. $52.41 b. $70.14 c. $64,40 d. $68.64 e. $66.15

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