Tresnan Brothers is expected to pay a $2.30 per share dividend at the end of the year (i.e., D₁ = $2.30). The dividend is expected to grow at a constant rate of 4% a year. The required rate of return on the stock, r_s, is 14%. What is the stock's current value per share? Round your answer to the nearest cent.

Problem 9.02 (Constant Growth Valuation) Question 9 of 20 Check My Work (3 remaining) eBook Tresnan Brothers is expected to pay a $2.30 per share dividend at the end of the year (i.e., D1 = $2.30). The dividend is expected to grow at a constant rate of 4% a year. The required rate of return on the stock, rs, is 14%. What is the stock's current value per share? Round your answer to the nearest cent. $ Check My Work (3 remaining) 0-Icon Key