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Lexington Corporation recently paid its annual dividend of $1.47. Dividends have consistently grown at a rate of 3%. The stock has a beta of 0.88.

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Lexington Corporation recently paid its annual dividend of $1.47. Dividends have consistently grown at a rate of 3%. The stock has a beta of 0.88. The current risk-free rate is 3.51% and the market return is 10.9%. Assuming that CAPM holds, what is the intrinsic value of this stock? DO NOT ENTER THE $ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, Le. IF YOUR ANSWER IS 33.4667 ENTER IT AS 33.47 ONLY

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