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3 A company that currently does not pay dividends on its stock is expected to begin paying a constant $3 dividend 6 years from now.

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3 A company that currently does not pay dividends on its stock is expected to begin paying a constant $3 dividend 6 years from now. The company is expected to maintain this constant dividend for 10 years and then cease paying dividends forever. The required return on this stock is 8%. What will be the share price 5 years from now? 4 points Do not round intermediate calculations, Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. 01:09:46 Numeric Response

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