P10-7 (similar to) Question Help (Common stock valuation) Wayne, Inc.'s outstanding common stock is currently selling in the market for $28. Dividends of $3.33 per share were paid last year, return on equity is 24 percent, and its retention rate is 24 percent. a. What is the value of the stock to you, given a required rate of return of 17 percent? b. Should you purchase this stock? a. Given a required rate of return of 17 percent, the value of the stock to you is $ . (Round to the nearest cent.)