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Bon Chance, Inc, has an odd dividend policy. The company has just paid a dividend of $8.50 per share and has announced that it will

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Bon Chance, Inc, has an odd dividend policy. The company has just paid a dividend of $8.50 per share and has announced that it will increase the dividend by $6,50 per share for each of the next four years, and then never pay another dividend. If you require a return of 16 percent on the company's stock, how much will you pay for a share today? (Do not round Intermediate calculations and round your answer to 2 decimal places, e... 32,16.) 03 1 Current share price es

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