Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years, because the firm needs to plow back its earnings to fuel growth. The company will then pay a $13.00 per share dividend in year 10 and will increase the dividend by 5.00 percent per year thereafter.

Required:

If the required return on this stock is 13.00 percent, what is the current share price? (Select rounded answers as directed, but do not use the rounded numbers in intermediate calculations.)

	$59.50
	$162.50
	$54.09
	$47.87
	$48.68