Question: Answer is not 39.13 either My last try so do be careful with your calculations please! Sheridan, Inc., is a fast-growing technology company. Management projects

Answer is not 39.13 either My last try so do be

Answer is not 39.13 either My last try so do be careful with your calculations please!

Sheridan, Inc., is a fast-growing technology company. Management projects rapid growth of 30 percent for the next two years, then a growth rate of 17 percent for the following two years. After that, a constant growth rate of 8 percent is expected. The firm expects to pay its first dividend of $2.90 a year from now. If dividends will grow at the same rate as the firm and the required rate of return on stocks with similar risk is 18 percent, what is the current value of the stock? (Round all intermediate calculations and final answer to 2 decimal places, e.g. 15.20.)

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