Question: Johnson Controls has a required return on common stock (Ke) of 20 percent. The firm has a constant growth rate (g) of 8 percent. The

Johnson Controls has a required return on common stock (Ke) of

Johnson Controls has a required return on common stock (Ke) of 20 percent. The firm has a constant growth rate (g) of 8 percent. The company will pay a dividend of $7.20 at the end of the year (01). What is the current price of the stock (Po). (Do not round intermediate calculations. Round your answer to 2 decimal places.) Current price

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