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ECC Corp. will pay annual dividends of $20 per share for the next 10 years. At the end of year 11, ECC will increase the

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ECC Corp. will pay annual dividends of $20 per share for the next 10 years. At the end of year 11, ECC will increase the dividends by 5% per year forever. The required rate of return on this stock is 12 percent. What is the price of the stock today? When you enter your answer, do not enter the $ sign, do not use decimals, and round your answer to the nearest dollar. For example, if your result is $85.87 then enter 86

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