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The last dividend paid by Duncombe Company was $1.00. Duncombe's growth rate is expected to be a constant 5 percent for 2 years, after which

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The last dividend paid by Duncombe Company was $1.00. Duncombe's growth rate is expected to be a constant 5 percent for 2 years, after which dividends are expected to grow at a rate of 10 percent forever. Duncombe's required rate of return on equity is 12 percent. What is the current price of Duncombe's common stock? (6 Points) Enter your

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