Question: Swifty Clothiers Ltd ! ' s current dividend is $ 4 . 0 0 . Dividends are expected to grow by 7 percent for years

Swifty Clothiers Ltd!'s current dividend is $4.00. Dividends are expected to grow by 7 percent for years 1 to 3,5 percent for years 4 to
7, and 1 percent thereafter. The required rate of return on the stock is 10 percent. What is the current stock price for Swifty? (Round
intermediate calculations to 4 decimal places, e.g.45.1771 and final answer to 2 decimal places, e.g.45.17.)

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