Problem:
Bingula Corporation just paid a dividend of D0 = $0.75 per share, and that dividend is expected to grow at a constant rate of 6.50% per year in the future. The company's beta is 1.25, the required return on the market is 10.50%, and the risk-free rate is 4.50%.
Required:
Question: What is the company's current stock price?
Note: Explain all steps comprehensively.