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Synovec Corporation is expected to pay the following dividends over the next four years: $5.50, $16.50, $21.50, and $3.30. Afterward, the company pledges to maintain
Synovec Corporation is expected to pay the following dividends over the next four years: $5.50, $16.50, $21.50, and $3.30. Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. If the required return on the stock is 8 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Share price
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