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CarParts Inc. made two announcements concerning its common stock today. First, the company announced that the next annual dividend will be $2.58 a share. Secondly,

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CarParts Inc. made two announcements concerning its common stock today. First, the company announced that the next annual dividend will be $2.58 a share. Secondly, all dividends after that will decrease by 1.35 percent annually. What is the value of this stock if the required rate of return of 13.5 percent? Growth Rate Next Dividend (D1) Rate of Return 13.50% Price per Share now

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