Question: QUESTION 34: ABC INC EXPECTS TO PAY $3.46 IN DIVIDENDS NEXT YEAR AND THE DIVIDENDS WILL GROW AT 5.9% ANNUALLY, INDEFINETLY. THE RATE OF RETURN

QUESTION 34: ABC INC EXPECTS TO PAY $3.46 IN DIVIDENDS NEXT YEAR AND THE DIVIDENDS WILL GROW AT 5.9% ANNUALLY, INDEFINETLY. THE RATE OF RETURN ON ABC STOCK IS 9.6%. WHAT IS THE CURRENT FAIR VALUE OF THE STOCK. ANSWERS SHOULD GO TO TWO DECIMALS

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