Could I Industries just paid a dividend of $1.40 per share. The dividends are expected to grow at a rate of 18 percent for the next five years and then level off to a growth rate of 4 percent...

Extracted text: Could I Industries just paid a dividend of $1.40 per share. The dividends are expected to grow at a rate of 18 percent for the next five years and then level off to a growth rate of 4 percent indefinitely. If the required return is 14 percent, what is the value of the stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price