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Victoria's Sporting Goods, Inc. forecasts dividend payments for the next 4 years of $2.80, $3.27, $4.07, and $4.88 (respectively) based on market demand for its
Victoria's Sporting Goods, Inc. forecasts dividend payments for the next 4 years of $2.80, $3.27, $4.07, and $4.88 (respectively) based on market demand for its products. After four years, the company expects to grow at a more moderate rate of 2.30% indefinitely. If investors expect a return of 9.55% on their investment, what is the likely price of the stock today? (Do not round intermediate steps. Round your final answer to two decimal places.) Stock price
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