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A firm's earnings and dividends are expected to decline at a constant rate of 6% per year. The most recent dividend (Div0) was $4 and

image text in transcribed A firm's earnings and dividends are expected to decline at a constant rate of 6% per year. The most recent dividend (Div0) was $4 and the required return on the stock is 13%. The current price of the stock should be $ Margin of error for correct responses: +/- .05 Rounding and Formatting instructions: Do not enter dollar signs, percent signs, commas, X, or any words in your response. Do not round any intermediate work, but round your *final* response to 2 decimal places (example: if your answer is 12.3456,12.3456%, or $12.3456, you should enter 12.35)

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