Nonconstant Growth Stock Valuation Assume that the average firm in your company's industry is expected to grow at a constant rate of 6% and that its dividend yield is 7%. Your company is about as risky as the average firm in the industry and just paid a dividend (Do) of $1.5. You expect that the growth rate of dividends will be 50% during the first year (90,1 = 50%) and 25% during the second year (91,2 = 25%). After Year 2, dividend growth will be constant at 6%. What is the required rate of return on your company's stock? What is the estimated value per share of your firm's stock? Do not round intermediate calculations. Round the monetary value to the nearest cent and percentage value to the nearest whole number. rs: % Po : $ Nonconstant Growth Valuation A company currently pays a dividend of $3.4 per share (Do $3.4). 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 1.8, the risk-free rate is 10%, and the market risk premium is 6%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent. $