Question: The next dividend for ABC Corp. is expected to be $ 1.01. It will rise to $ 2.03 the next year and grow at a

The next dividend for ABC Corp. is expected to be $ 1.01. It will rise to $ 2.03 the next year and grow at a constant 5.6 % from then on. The required return is 12.1 %.

What is the current price of the stock? The price per share is? round to nearest cent.

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