A stock is expected to pay a dividend of $1.27 at the end of the year. The required rate of return is r s = 14.57%, and the expected constant growth rate is g = 2.6%. What is the stock's current...

A stock is expected to pay a dividend of $1.27 at the end of the year. The required rate of return is r_s = 14.57%, and the expected constant growth rate is g = 2.6%. What is the stock's current price?


Round your answer to two decimal places. For example, if your answer is $345.6671 round as 345.67 and if your answer is .05718 or 5.7182% round as 5.72.

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