Question: Lohn Corporation is expected to pay the following dividends over
Lohn Corporation is expected to pay the following dividends over the next four years: $17, $13, $11, and $6.50. Afterward, the company pledges to maintain a constant 4 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price? (Round your answer to 2 decimal places. (e.g., 32.16))
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