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Intro A stock is expected to pay its first annual dividend in 1 years. The dividend is expected to stay constant at $1.1 per year

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Intro A stock is expected to pay its first annual dividend in 1 years. The dividend is expected to stay constant at $1.1 per year for 22 years and then grow at 5% annually forever. The required rate of return is 13% (hint: non-standard dividends; two-stage) Attempt 1/3 for 10 pts. Part 1 What should be the stock price now? 2+ decimals Submit

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