Consider the stock of BIC Company has an annual dividend of $3 in the last year. The dividend is expected to grow at a constant rate of 7 percent permanently. The market requires a 11 percent return...

Consider the stock of BIC Company has an annual dividend of $3 in the last year. The dividend is expected to grow at a constant rate of 7 percent permanently. The market requires  a 11 percent return on the company. What is the current price of a share of the stock?