A stock is expected to pay a dividend of $1.99 at the end of the year. The required rate of return is r s = 13.82%, and the expected constant growth rate is g = 8.0%. What is the stock's current...

A stock is expected to pay a dividend of $1.99 at the end of the year. The required rate of return is r_s
= 13.82%, and the expected constant growth rate is g = 8.0%. 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.

A. $39.61