Nonconstant Growth Valuation A company currently pays a dividend of $4 per share (Do = $4 ) . It is estimated that the company's dividend will grow at a rate of 18% per year for the next 2 years, and then at a constant rate of 7% thereafter. The company's stock has a beta of 1.6, the risk-free rate is 7%, and the market risk premium is 3%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent eBook Declining Growth Stock Valuation Brushy Mountain Mining Company's coal reserves are being depleted, so its sales are falling. Also, environmental costs increase each year, so its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 4% per year. If Do = 13%, what is the estimated value of Brushy Mountain's stock? Do not round $3 and rs intermediate calculations. Round your answer to the nearest cent