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bapps/assessment/take/launch.jsp?course assessment_id 5 Microsoft Outlook emaining Time: 21 minutes, 57 seconds. uestion Completion Status: QUESTION 10 Rocket Medical Devices Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 20% for the next 3 years, after which competition will probably reduce the growth rate in earnings and dividends to 15% for the next two years, and then to a long-term growth of 3% forever. The company's last dividend, DO, was $0.80, its beta is 1.20, the market risk premium is 5.50%, and the risk-free rate is 2.00%. What is the current fair market price of the common stock? Calculate! For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Arial 3 (12pt) T Fair market price: $27.55 Required Return = 29+1.2*5.5% = 8.6% Share price 5 Years = 33.63 Present Val = 22.26 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Ar . 99 A & 3 5 6 7 8