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Lohn Corporation is expected to pay the following dividends over the next four years: $5.71, $2.05, $4.2, and $9.18. Afterward, the company pledges to maintain
Lohn Corporation is expected to pay the following dividends over the next four years: $5.71, $2.05, $4.2, and $9.18. Afterward, the company pledges to maintain a constant 2.01 percent growth rate in dividends forever. If the required return on the stock is 6.7 percent, what is the current share price? Omit the $ dollar sign and commas. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)
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