Question 24 Suppose that the current stock price for Acme Bank is $24 and shareholders receive an annual dividend of $0.72 per share (which will be paid next year). Assume that this bank is AAA credit...

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Extracted text: Question 24 Suppose that the current stock price for Acme Bank is $24 and shareholders receive an annual dividend of $0.72 per share (which will be paid next year). Assume that this bank is AAA credit rated and the average bond yield for such firms is 2.41%. What is the rational forecast for the bank's stock price next year? (Round your answer to the nearest two decimal points and omit the currency units - e.g., 1.23 NOT $1.23).