Tennessee Vols Inc. currently (2024) does not pay a dividend. However, the company is expected to pay a $1.00 dividend two years from today (2026). The dividend is then expected to grow at a rate of 20% a year for the following three years. After the dividend is paid in 2029, it is expected to grow forever at a constant rate of 7%. Currently, the risk-free rate is 6%, market risk premium (rM - TRF) is 5%, and the stock's beta is 1.4. What should be the price of the stock today? a. $22.91 b. $21.20 C. $30.82 @$28.80 e. $20.16 222 DI (1-9) $1.00 two years from today $1.00 (1+0.20) D3 = $1.728 0.06+1.470.07 = 0.15%