Quantitative Problem 2: Carlysle Corporation has perpetual preferred stock outstanding that pays a constant annual dividend of $1.20 at the end of each vear. If investors mouire an 9% return on the preferfed stock, what is the plice of the firm's perpetual preferred stock? Round your answer to the nearest cent: pershare Nonconstant Growth Stocks: For many comparies, it is not appropriate to assume that dividends wili grow at a constant rate. Most firms go through ife cycles where they experience different growth rates during different parts of the cycle. For valuing these firms, the generalized valuation and the constant growth equations are combined to arrive at the nonconstant growth valuation equation: Basically, this equation calculates the present vaiue of dividends recelved during the nonconstant grawth period and the present value of the stock't. horizon value, which is the value at the horixon date of all drvidends expected thereafter. cost of equity (w4) is 9%. Using the dividend drowth modet (allowing tor nonconstant growth), what shocilid be the price of the company's stock todar (December 31 , 2019)? Do not round intermediate calculations. Found youir answer to the nearest cent. $ per shark