10. This year Monona Air Cleaners Inc. will pay a dividend on its stock of $6 per share. The following year the dividend is expected to be the same, increasing to

$7 the year after. From that point on, the dividend is expected to grow at 4% per year indefinitely. Stocks with similar risk are currently priced to provide a 10%

expected return. What is the intrinsic value of Monona stock?