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Metallica Bearingc, Inc., is a young start - up company. No dividends will be paid on the stock over the next 1 2 years, because

Metallica Bearingc, Inc., is a young start-up company. No dividends will be paid on the stock over the next 12years, because the firm needed to plow back its earnings to fuel growth. The company will pay an $11 per share dividend in 13 years and will increase the dividend by 5.5 percent per year thereafter. If the required return on this stock is 13 percent, what is the current share price?

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