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Sea Side, Inc., just paid a dividend of $1.92 per share on its stock. The growth rate in dividends is expected to be a constant
Sea Side, Inc., just paid a dividend of $1.92 per share on its stock. The growth rate in dividends is expected to be a constant 6.1 percent per year indefinitely. Investors require a return of 24 percent on the stock for the first three years, then a return of 19 percent for the next three years, and then a return of 17 percent thereafter. What is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Share price
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