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Lima Tech is experiencing cash flow issues. Analysts believe the company will pay a dividend every other year for the next five years. The first

Lima Tech is experiencing cash flow issues. Analysts believe the company will pay a dividend every other year for the next five years. The first dividend payment of $4/share will occur one year from today. Each subsequent dividend paid over this five-year period will be 10% greater than previous dividend paid.
After five years, Lima's dividend is expected to grow at a constant 6% rate, indefinitely. Investors require a 15% rate of return. Find the value of Lima's stock today. Round intermediate steps to four decimals.
33.42
37.12
65.78
40.05

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