Question: Corp expects to earn $ 3 . 3 per share next year and plow back 2 4 . 2 4 % of its earnings (

Corp expects to earn $3.3 per share next year and plow back 24.24% of its earnings (i.e., it expects to pay out a dividend of $2.5 per share, representing 75.76% of its earnings). The dividends are expected to grow at a constant sustainable growth rate and the stocks are currently priced at $30 per share. How much of the stock's $30 price is reflected in Present Value of Growth Opportunities (PVGO) if the investors' required rate of return is 20%? $_________

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