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You own shares of Crane DVD Company and are interested in selling them with so many people downloading music these days, sales, profits, and dividends

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You own shares of Crane DVD Company and are interested in selling them with so many people downloading music these days, sales, profits, and dividends at Crane have been declining 7 percent per year. The firm just paid a dividend of $ 1.90 per share. The required rate of return for a stock this risky is 12 percent. If dividends are expected to decline at 7 percent per year, what is a share of the stock worth today? (Round answer to 2 decimal places, eg 15.20.) Worth of share of stock

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