Problem 10-30 Common stock value under different market conditions [LO10-5) Maxwell Communications paid a dividend of $1.20 last year. Over the next 12 months, the dividend is expected to grow at 9 percent which is the constant growth rate for the firm (9). The new dividend after 12 months will represents the required rate of retum ar 14 percent Compute the price of the stock (Pe). (Do not round intermediate calculations. Round your answer to 2 decimal places) Stock price