Question: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Only put numbers in the boxes. DO NOT include units, $. X,

(Do not round intermediate calculations. Round the final answers to 2

(Do not round intermediate calculations. Round the final answers to 2 decimal places. Only put numbers in the boxes. DO NOT include units, $. X, %, etc in your answers.) JKL Inc. pays a dividend every year, and the dividend grows at a constant rate of 6%. The required return on the company's stock is 8%. If the dividend per share just paid was $2, what is the current stock price? Assume the company pays a dividend once a year. Answer: The current stock price is $_

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