Earnings per common share of ABC Industries for the current year are expected to be $2.55 and to grow 10.5% per year over the next 4 years. At the end of the 5 years, earnings growth rate is expected to fall to 7.25% and continue at that rate for the foreseeable future. ABC's dividend payout ratio is 40%. If the expected return on ABC's common shares is 15.5%, calculate the current share price. (Do not round intermediate calculations. Round your answer to the nearest cent.) Current share price $ pter 7) i A Canadian wireless communications company earned $3.49 per share in 2018 and paid dividends of $1.61 per share. Analysts forecast an annual earnings growth rate of 9% for the next 5 years. Based on similar-risk companies, the estimated required rate of return on the stock is 10%. It is assumed that after 2023 onward, the company will maintain its current reinvestment rate but earn only its cost of capital on new investments. Estimate the current stock price at the beginning of 2019. (Do not round intermediate calculations. Round your answer to the nearest cent.) Stock price $