A company's stock is currently selling for 26.5. Its next dividend, payable one year from now, is expected to be 0.5 per share. Analysts forecast a long-run dividend growth rate of 7.5% for the company. Tomorrow the long-run dividend growth rate estimate changes to 7%. Calculate the new stock price to the nearest cent that would result in the same yield rate as the previous day's price of 26.5. Mike invests $100,000 at = 0 and $108,900 at += 3. In return he gets $90,000 at t= 1 and $121,000 at = 2. Mike's yield is 8% This yield rate is one of two yield rates greater than 1