Far Side Corporation is expected to pay the following dividends over the next four years: $12, $8, $4, and $1. Afterward, the company pledges to maintain a constant 7 percent growth rate in dividends forever. Required: If the required return on the stock is 16 percent, what is the current share price? (Do not round your intermediate calculations.)
$25.97 $35.07 $25.92 $26.75 $24.67