Question: 1. Problem 9.02 (Constant Growth Valuation) a company is expected to pay a $3.00 per share dividend at the end of the year (i.e., D1

1. Problem 9.02 (Constant Growth Valuation)

a company is expected to pay a $3.00 per share dividend at the end of the year (i.e., D1 = $3.00). The dividend is expected to grow at a constant rate of 7% a year. The required rate of return on the stock, rs, is 19%. What is

the stock's current value per share? Round your answer to the nearest cent.

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