Question: Problem 7 - 1 5 Nonconstant Growth [ LO 1 ] Metallica Bearings, Inc., is a young start - up company. No dividends will be

Problem 7-15 Nonconstant Growth [LO 1]
Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs to plow back its earnings to fuel growth. The company will then pay a dividend of $14.50 per share 10 years from today and will increase the dividend by 5 percent per year thereafter.
If the required return on this stock is 13 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
Current share price
Problem 7-15 Nonconstant Growth [LO 1] Metallica Bearings, Inc., is a

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