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.) ABC Inc. pays a constant dividend every year. The required return on the company's stock is 12%. If the dividend per share just paid was $4, what is the stock price? Assume the company pays a dividend once a year. Answer: The stock price is $

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