CompanyA's common stock recently paid a dividend of $3.00. The next dividend is expected to be $3.18. If the required return is 12%, what is the estimated value of the commonstock?

Problem 8.L03.9 Company A's common stock receny paid a dividend of $3.00. The next dividend is expected to be $3.13. It the required return is 12%, what is the estimated value of the common stock? The estimated value of the common stock is 5 _ (Round to the nearest cent.)