Question 30 (18 points) You are considering the purchase of a common stock that just paid out a dividend of $2 (Do). You expect this stock to have annual growth rates of 40%, 30%, 30%, and 20%, respectively, for the next 4 years, and then to have a long-run constant growth rate of 8% thereafter, starting from year 5. If you require a 15% rate of return for this investment, then how much should you be willing to pay for this stock? 40% 30% 30% 20% || La g=8% constant growth to infinity 0 1 2 3 4. 5 +------ --------> Do=2