$[$Constant Growth Dividend Valuation$]$ The Udo corporation

recently paid a dividend of $$1\mathrm{.}50$ per share $($D$0=$ $$1\mathrm{.}50).$ Their

dividends are expected to shrink by $3\%$ per year for the foreseeable

future. So their growth rate will be a negative $3\%$ annually $($g $=$

$-3\%).$ If you require an $11\%$ return on this stock, what is the most

you would be willing to pay for a share of Udo corporations common

stock?$$