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35. Bayou Okra Farms just paid a dividend of $4.00 on its stock. The growth rate in dividends is expected to be a constant 6

35.

Bayou Okra Farms just paid a dividend of $4.00 on its stock. The growth rate in dividends is expected to be a constant 6 percent per year indefinitely. Investors require a return of 15 percent for the first three years, a return of 13 percent for the next three years, and a return of 11 percent thereafter. What is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Current share price $

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