Question: consider the follow information which relates to a given organization: Item 2019 Value Earnings per Share $6.56 price per share (common stock) $39.06 Book Value

consider the follow information which relates to a given organization:

Item 2019 Value
Earnings per Share $6.56
price per share (common stock) $39.06
Book Value (common stock equity) $64.2 million
total common stock outstanding 2.55 million
Dividend per share $4.9

Experts expect that the company can maintain a constant annual growth rate in dividends per share of 5.78% in the future, or possibly 7.65% for the next 2 years and 5.93% thereafter. in addition, it is expected that the risk of the firm, as measured by the risk premium on its stock, to increase immediately from 8.95% to 10.69%. Currently, the risk-free rate is 5.61%. Assuming a constant 7.65% growth rate in dividends per share over the next 2 years and 5.93% thereafter. find the value per share of the firm's stock. the required rate of return is 16.15% NOTE**(ROUND YOUR ANSWER TO 2 DECIMAL PLACES)

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