Common stock value long dash Constant growthUse the constant-growth model (Gordon model) to find the value of the firm shown in the following table:(Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.)

Dividend expected next year Dividend growth rate Required return

$1.29 7.4% 11.1%

The value of the firm's stock is $ . (Round to the nearest cent.)