Burkhardt corp pays a constant 1390 dividend on its stock, Financial Management

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Burkhardt corp pays a constant 1390 dividend on its stock

Burkhardt Corp. pays a constant $13.90 dividend on its stock. The company will maintain this dividend for the next six years and will then cease paying dividends forever.

If the required return on this stock is 11 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Share price $

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Financial Management: Burkhardt corp pays a constant 1390 dividend on its stock

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