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Talcville Farms just paid a dividend of $3.46 on its stock. The growth rate in dividends is expected to be a constant 6.3% per year
Talcville Farms just paid a dividend of $3.46 on its stock. The growth rate in dividends is expected to be a constant 6.3% per year indefinitely. Investors require a 16.3% return on the stock for the first three years, a 14.3% return for the next three years, and an 12.3% 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.)
Current share price $
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