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2. Problem 9.02 (Constant Growth Valuation) ER eBook Tresnan Brothers is expected to pay a $1.00 per share dividend at the end of the year

2. Problem 9.02 (Constant Growth Valuation) ER eBook Tresnan Brothers is expected to pay a $1.00 per share dividend at the end of the year (i.e., D1 = $1.00). The dividend is expected to grow at a constant rate of 4% a year. The required rate of return on the stock, rs, is 13%. What is the stock's current value per share? Round your answer to the nearest cent. $

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