Question 18 of 26 estion 18 2 points Save Answe You are evaluating a stock that is expected to experience supernormal growth in dividends of 16% over the next two years. Following this period, dividends are expected to grow at a constant rate of 3%. The stock paid a dividend of $2 last year and the required return on the stock is 12%. What is the fair present value of this stock? A Moving to another question will save this response. $ % 5 9 50 9 no & V 8 Question 18 of 26