QUESTION 10 A company is expected to pay dividends, beginning with a dividend of $1.25, two years from today. The dividend will grow at 25% in year 3, and 30% in year 4. After year 4, the growth should be a constant 75% per year for very long time. If the required return is 11.5%, what is the value of the stock today? O 31.44 26.55 50 98 O 38.77 2307