Chartreuse County Choppers Inc. is experiencing rapid growth. The company expects dividends to grow at 15 percent per year for the next 8 years before levelling off at 6 percent into perpetuity. The required return on the company’s stock is 12 percent. If the dividend per share just paid was $1.82, what is the stock price? (Round your answer to 2 decimal places. (e.g., 32.16))
Stock price?