Problem:
The Zuwalt Company is expected to pay a dividend of $3.00 per share at the end of the year, and that dividend is expected to grow at a constant rate of 5.00% per year in the future. The company's beta is 1.2, the market risk premium is 6%, and the risk-free rate is 4.00%.
Required:
Question: What is the current market price of the stock?
Note: Please solve the given numerical and provide appropriate solution.