Question: An analyst is valuing Proctor and Gamble (NYSE: PG) common stock using the single-stage dividend discount model. Last year, PG paid an annual dividend of

An analyst is valuing Proctor and Gamble (NYSE: PG) common stock using the single-stage dividend discount model. Last year, PG paid an annual dividend of $1.6 per share. To estimate growth, the analyst uses a perpetual growth rate of 4.4%. The analyst estimates the required return for PG of 11%.

What is the per-share value of PG?

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