Question: Carter Communications does not currently pay a dividend. You expect the company to begin paying a $ 4 . 0 0 per share dividend in

Carter Communications does not currently pay a dividend. You expect the company to begin paying a $4.00 per share dividend in 14 years, and you expect dividends to grow perpetually at 5 percent per year thereafter. If the discount rate is 13 percent, how much is the stock currently worth?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Carter Communications does not currently pay a dividend. You expect the

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