Question: McCabe Corporation is expected to pay the following dividends over the next four years: $ 1 7 , $ 1 3 , $ 1 1

McCabe 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?Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.

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