Question 7 of 7 - 71 iii View Policies Current Attempt in Progress Culver Mechanical Inc's first dividend of $ 1.50 per share is expected to be paid six years from today. From then on, dividends will grow by 10 percent per year for five years. After five years, the growth rate will slow to 5 percent per year in perpetuity. Assume that Culver's required rate of return is 12 percent. What is the price of a share of Culver Mechanical today? (Round present value factor calculations to 5 decimal places, e.g. 1.15612. Round other intermediate calculations to 3 decimal places, e.g. 1.156 and final answer to 2 decimal places, e.g. 115.61.) Price of the stock $ Save for Later Attempts: 0 of 3 used Submit Answer Using multiple attempts will impact your score. 25% score reduction after attempt 1