memories of the 2007-2009 financial crisis have made you more risk averse, doubling the risk premium you require to purchase a stock. suppose that your risk premium before the crisis was 4% and that you had been willing to pay$412 for a stock with a dividend payment of$10 and expected dividend growth of 3%.

using the dividend-discount model, with unchanged risk-free rate, dividend payment and expected dividend growth, what price would you now be willing to pay for this stock?

$_________