$($D$)$

Dashboar

$10$

$1$ point

d

A stock currently has a dividend of $$6\mathrm{.}77$ today. The dividend is expected to grow by $10\mathrm{.}13\%$ each year for the next $3$ years, and then $2\mathrm{.}79\%$ annually in perpetuity. If the required return is $24\mathrm{.}30\%,$ what is the value of the stock today using the differential growth model? Round your answer to the nearest cent.