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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 $13 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 $13 at the end of year 4 and will pay the same amount each year until year 9. Thereafter, it will increase the dividends by 2% per year forever. If the required rate of return on this stock is 10%, what is the price of this stock today? Do not use the $ sign. Use commas to separate thousands. Use to decimals. Round to the nearest cent. For example if you obtain $1,432.728 then enter 1,432.72; if you obtain $432 then enter 432.00 Your

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