1. Problem 9.02 (Constant Growth Valuation) Tresnan Brothers is expected to pay a $3.30 per share dividend at the end of the year (i.e. D1=53.90). The dividend is expected to orow at a constant rate of 94 a Year. The required rate of tetura on the stock, rm is 16%. What is the stock's current value per share? Round vour answer to the nearest cent