Kelligrews Inc. has an odd dividend policy. The company has just paid a dividend of $3 per share and has announced that it will increase the dividend by $5 per share for each of the next five years, and then never pay another dividend. If you require an 11% return on the company's stock, how much will you pay for a share today? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Current share price

Kelligrews Inc. has an odd dividend policy. The company has Just pald a dividend of $3 per share and has announced that it will ncrease the dividend by $5 per share for each of the next five years, and then never pay another divdend. If you require an 11% return on the company's stock, how much will you pay for a share today? (Do not round intermediate colculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Current share price