P8-17 Nonconstant Dividends [LO1] Lohn Corporation is expected to pay the following dividends over the next four years: $9, $5, $3, and $1. Afterward, the company pledges to maintain a constant 6 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price?

P8-17 Nonconstant Dividends [LO1] Lohn Corporation is expected to pay the following dividends over the next four years: $9,$5,$3, and $1. Afterward, the company pledges to maintain a constant 6 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price