Suppose the real rate is 6.5 percent and the inflation rate is 1.8 percent. What rate would you expect to see on a Treasury bill? Hudson Corporation will pay a dividend of $2.70 per share next year. The company pledges to increase its dividend by 5.5 percent per year indefinitely. If you require a return of 12 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price