You are considering buying common stock in Grow On, Inc. You have projected that the next dividend the company will pay will equal $4.80 and that dividends will grow at a rate of 7.0% per year thereafter. If you would want an annual return of 20.0% to invest in this stock, what is the most you should pay for the stock now? $40.34 $39.51 $24.00 $25.68 $36.92 Grow On, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $5.10. You believe that dividends will grow at a rate of 13% per year for two years, and then at a rate of 7% per year thereafter. You expect the stock will sell for $38.71 in two years. You expect an annual rate of return of 16% on this investment. If you plan to hold the stock indefinitely, what is the most you would pay for the stock now? \begin{tabular}{|} $38.58 \\ \hline$59.41 \\ \hline$67.35 \\ \hline$50.17 \\ \hline$72.90 \end{tabular}