Question: A company that does not currently pay dividends on its stock is expected to start paying a constant $5 dividend 5 years from today. The

A company that does not currently pay dividends on its stock is expected to start paying a constant $5 dividend 5 years from today. The company is expected to maintain this constant dividend for 12 years and then stop paying dividends forever. If the required return on this stock is 11%, what will the share price be 4 years from today?

Do not round intermediate calculations. Round the final answer to 2 decimal places.

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