QuestionL: The Ehrhardt Company's last dividend was 2 dollar. The dividend growth rate is expected to be constant at 3% for two years, after which dividends are expected to rise at a rate of 8 percent forever. Erhardt's required return (rs) is 12%. Calculate Erhardt's current stock price?
[A] $53.80
[B] $55.10
[C] $57.30
[D] $49.20
[E] $51.40