Question 2: [5 marks] You are valuing the stock of ABC Company. The company just paid an aniual dividend of $1.00 this morning. It is expected that the company's dividends will grow at an effective annual rate of 3% per year forever. You have examined the company's past performance and you expect that the company should be able to make an effective annual rate of 7% per year for the foreseeable future. How much will you pay for the stock today