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1. Problem 9.02 (Constant Growth Valuation) eBook Tresnan Brothers is expected to pay a $2.50 per share dividend at the end of the year (i.e.,

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1. Problem 9.02 (Constant Growth Valuation) eBook Tresnan Brothers is expected to pay a $2.50 per share dividend at the end of the year (i.e., D1 = $2.50). The dividend is expected to grow at a constant rate of 8% a year. The required rate of return on the stock, rs, is 15%. What is the stock's current value per share? Round your answer to the nearest cent

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