11. Problem 9.11 (Valuation of a Constant Growth Stock) eBook Problem Walk-Through A stock is expected to pay dividend of $0.50 at the end of the year (i.e., D1 = $0.50), and it should continue to grow at a constant rate of 5% a year. If its required return is 14%, what is the stock's expected price 1 year from today? Do not round intermediate calculations. Round your answer to the nearest cent. $