Lohn corporation is expected to pay the given dividends

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Lohn Corporation is expected to pay the following dividends over the next four years: $19, $15, $14, and $5.50. Afterward, the company pledges to maintain a constant 3 percent growth rate in dividends forever. If the required return on the stock is 10 percent, what is the current share price? (Round your answer to 2 decimal places).

Reference no: EM13476941

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