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CullumberCorp. will pay dividends of $5.00, $6.25, $4.75, and $3.00 in the next four years. Thereafter, management expects the dividend growth rate to be constant
CullumberCorp. will pay dividends of $5.00, $6.25, $4.75, and $3.00 in the next four years. Thereafter, management expects the dividend growth rate to be constant at6percent. If the required rate of return is15.00percent, what is the current value of the stock?(Round all intermediate calculations and final answer to 2 decimal places, e.g. 15.20.)
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