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SunlandCorp. paid a dividend of $2.90yesterday. The company's dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If
SunlandCorp. paid a dividend of $2.90yesterday. The company's dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies likeSunlandrequire a rate of return of19percent, what should be the market price ofSunlandstock?(Round dividend to 3 decimal places, e.g. 3.756 and round final answer to 2 decimal places, e.g. 15.25.)
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