Question: Question 3 1 pts ABC, Inc. is expected to pay a dividend of $8.7 next year. The dividends are expected to grow at 3.69%

Question 3 1 pts ABC, Inc. is expected to pay a dividend

Question 3 1 pts ABC, Inc. is expected to pay a dividend of $8.7 next year. The dividends are expected to grow at 3.69% each year forever. The required rate of return on the stock is 17.34%. What is today's price of the stock? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

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