value, what is the YTM? Nonconstant Growth To buy back its own shares, Pennzoil Co. has decided to suspend its dividends for the next two years. It will resume its annual cash dividend of $2.00 in year 3 and year 4. Thereafter its dividend payments will grow at an annual growth rate of 6 percent for ever. The required rate of return on Pennzoil's stock is 16 percent. According to the discounted dividend model, what should Pennzoil's current share price be