Nonconstant Dividend Growth Valuation A company currently pays a dividend of $2 per share (Do $2). It is estimated that the company's dividend will grow at a rate of 16% per year for the next 2 years and then at a constant rate of 8% thereafter. The company's stock has a beta of 1.2, the risk free rate is 8%, and the market risk premium is 4%. What is your estimate of the stock's current price? Do not round Intermediate calculations. Round your answer to the nearest cent. 5