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Points: 0 of 1 (Related to Checkpoint 10.1) (Common stock valuation) Header Motor, Inc., paid a $3.42 dividend last year. At a constant growth rate

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Points: 0 of 1 (Related to Checkpoint 10.1) (Common stock valuation) Header Motor, Inc., paid a $3.42 dividend last year. At a constant growth rate of 5 percent, what is the value of the common stock if the investors require a 11 percent rate of return? The value of the common stock is $ (Round to the nearest cent.)

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