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Westsyde Tool Company is expected to pay a dividend of $1.50 in the upcoming year. The risk-free rate of return is 6%, and the expected
Westsyde Tool Company is expected to pay a dividend of $1.50 in the upcoming year. The risk-free rate of return is 6%, and the expected return on the market portfolio is 14%. Analysts expect the price of Westsyde Tool Company shares to be $23 a year from now. The beta of Westsyde Tool Company's stock is 1.1. Compute the intrinsic value of Westsyde Tool Company's stock. Round your answer to 2 decimal places, and enter your answer without the dollar sign.
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