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Spars Co has paid the following dividends per share in recent years: YEAR 2019 2018 2017 2016 Dividend, per share 0.360 0.338 0.328 0.311 The

Spars Co has paid the following dividends per share in recent years:

YEAR	2019	2018	2017	2016
Dividend, per share	0.360	0.338	0.328	0.311

The dividend for 2019 has just been paid and Spars Co has a cost of equity of 16%.

Using the historic dividend growth rate and the dividend growth model, what is the market price of Spars Co shares to the nearest eurocent on an ex-dividend basis?

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