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Apocalyptica Corporation is expected to pay the following dividends over the next four years: $5.20, $16.20, $21.20, and $3.00. Afterward, the company pledges to maintain
Apocalyptica Corporation is expected to pay the following dividends over the next four years: $5.20, $16.20, $21.20, and $3.00. Afterward, the company pledges to maintain a constant 5.5 percent growth rate in dividends, forever.
If the required return on the stock is 9 percent, 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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