Contrail Air Inc., Just paid a dividend of $2.15 per share on its stock. The dividends are expected to grow at a constant rate of 5% percent per year, indefinitely. If investors require a return of 11% percent, what is the current price?

Dividend paid	$2.15
Dividend growth rate	5%
Required return	11%
Requested year	0

(37.63)

34.13

37.63

34.04