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You've collected the following information from your favorite financial website. 52-Week Price Hi Lo 77.40 10.43 55.81 33.42 130.96 69.65 50.24 13.95 35.00 20.74 PE

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You've collected the following information from your favorite financial website. 52-Week Price Hi Lo 77.40 10.43 55.81 33.42 130.96 69.65 50.24 13.95 35.00 20.74 PE Ratio 6 Div Yld % 2.6 3.8 2.4 Stock (Cur div) Palm Coal .36 Lake Lead Grp 1.54 SIR 2.15 DR Dime .80 Candy Galore .32 10 Close Price 13.90 40.43 89.00 15.43 ?? Net Chg -.24 -.01 3.07 -.26 .18 5.2 10 6 28 1.5 According to your research, the growth rate in dividends for SIR for the next five years is expected to be 21 percent. Suppose SIR meets this growth rate in dividends for the next five years and then the dividend growth rate falls to 5.75 percent indefinitely. Assume investors require a return of 14 percent on SIR stock. According to the dividend growth model, what should the stock price be today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current stock price $

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