VALUATION OF A CONSTANT GROWTH STOCK

Investors require a 15% rate of return on Levine Company's stock (i.e., rs = 15%).

What is its value if the previous dividend was D0 = $3.25 and investors expect dividends to grow at a constant annual rate of (1) -6%, (2) 0%, (3) 2%, or (4) 14%? Do not round intermediate calculations. Round your answers to two decimal places.

(1) $

(2) $

(3) $

(4) $