Question: Problem 6-20 Multiple Required Returns (L01, CFA6) Sea Side, Inc., just paid a dividend of $18 per share on its stock. The growth rate in

Problem 6-20 Multiple Required Returns (L01, CFA6) Sea Side, Inc., just paid a dividend of $18 per share on its stock. The growth rate in dividends is expected to be a constant 3 percent per year indefinitely. Investors require a return of 21 percent on the stock for the first three years, then a return of 16 percent for the next three years, and then a return of 14 percent thereafter. What is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Share price

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