Neptune Corporation recently paid its annual dividend of $ 2.28. Dividends have consistently grown at a rate of 6%. The stock has a beta of 0.88. The current risk-free rate is 2.94% and the market return is 10.9%. Assuming that CAPM holds, what is the intrinsic value of this stock? DO NOT ENTER THE $ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBERSET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS 33.4667 ENTER IT AS 33.47 ONLY

Neptune Corporation recently paid its annual dividend of $2.28. Dividends have consistently grown at a rate of 6%. The stock has a beta of 0.88. The current risk-free rate is 2.94% and the market return is 10.9%. Assuming that CAPM holds, what is the intrinsic value of this stock? DO NOT ENTER THE $ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS 33.4667 ENTER IT AS 33.47 ONLY