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Talcville Farms just paid a dividend of $3.30 on its stock. The growth rate in dividends is expected to be a constant 5.5% per year
Talcville Farms just paid a dividend of $3.30 on its stock. The growth rate in dividends is expected to be a constant 5.5% per year indefinitely. Investors require a 15.5% return on the stock for the first three years, a 13.5% return for the next three years, and an 11.5% return thereafter. What is the current share price? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
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