mework $($Ch $4,6,7)$ New

Question $4,$ P $7-13($similar to$)$

HW Score: $80\%,4$ of $5$ points

Points: $0$ of $1$

Summit Systems will pay a dividend of $$1\mathrm{.}65$ this year. If you expect Summit's dividend to grow by $6\mathrm{.}4\%$ per year, what is its price per share if the firm's equity cost of capital is $11\mathrm{.}2\%?$

The price per share is $$,($Round to the nearest cent.$)$