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Seattle Super Tonics Inc. has the following expected future dividends to be paid at the end of the given years: Year 2020 2021 2022 2023

Seattle Super Tonics Inc. has the following expected future dividends to be paid at the end of the given years:

Year 2020 2021 2022 2023 2024...

Dividend 4.00 4.25 4.50 4.75 Grow at 4% per year

If Seattle Super Tonics Inc.'s expected return on equity is 9%, calculate the expected price of their stock at the beginning of 2020.

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