Growth rate in dividends-what is current share price

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Sea Side, Inc., just paid a dividend of $1.76 per share on its stock. The growth rate in dividends is expected to be a constant 6 percent per year indefinitely. Investors require a return of 20 percent on the stock for the first three years, then a 15 percent return for the next three years, and then a 13 percent return thereafter. What is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Reference no: EM131058143

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