The required rate of return on the stock rs is 18 what is, Financial Management

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The required rate of return on the stock rs is 18 what is

CONSTANT GROWTH VALUATION

Tresnan Brothers is expected to pay a $3.3 per share dividend at the end of the year (i.e., D1 = $3.3). The dividend is expected to grow at a constant rate of 5% a year. The required rate of return on the stock, rs, is 18%. What is the stock's current value per share? Round your answer to two decimal places.

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