Question: ( Ref . Unit 5 Exercise 3 ) A company just paid a dividend of $ 2 . 5 0 per share on its stock.

(Ref. Unit 5 Exercise 3) A company just paid a dividend of $2.50 per
share on its stock. The dividends are expected to grow at a constant
rate of 3% per year forever. Investors expect to earn a 9% return on the
company's stock. What is the price of the stock today (t=0)?
Note: Write your answer with 2 or more decimal places.
(Ref. Unit 5 Exercise 3) A company just paid a dividend

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