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(Estimated time allowance: 17 minutes) Pera Inc. does not currently pay dividends. The company will start with an annual dividend of $14 at the end

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(Estimated time allowance: 17 minutes) Pera Inc. does not currently pay dividends. The company will start with an annual dividend of $14 at the end of year 5 and will pay the same amount each year until year 9 . Thereafter, it will increase the dividends by 3% per year forever. If the required rate of return on this stock is 9%, what is the price of this stock today? Do not use the 5 sign. Use commas to separate thousands. DO NOT USE to decimals. Round to the nearest cent. For example if you obtain $1,432.728 then enter 1432.72 ; if you obtain $432 then enter 432.00 Your

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