on equity, what is the current price of Hubbard's common stock? Do not round intermediate calculations. Round your answer to the nearest cent.

$

per share

Zero Growth Stocks:

equation is:

$V_{ps}=\frac{D_{ps}}{r_{ps}}$

regular, fixed dividend payments in perpetuity. The valuation equation is simply the current dividend divided by the required rate of return.

cent.

$$,$ per share

Nonconstant Growth Stocks:

equation:

widehat$(P{)}_1=\frac{D_1}{(1+r_s{)}^1}+\frac{D_2}{(1+r_s{)}^2}+$cdots$+\frac{D_N}{(1+r_s{)}^N}+\frac{\text{h}\text{a}\text{t}(P{)}_N}{(1+r_s{)}^N}$

value at the horizon date of all dividends expected thereafter.

nearest cent.