Question: Thomas Brothers is expected to pay a $ 1 . 6 per share dividend at the end of the year ( that is , D

Thomas Brothers is expected to pay a $1.6 per share dividend at the end of the year (that is, D1= $1.6). The dividend is expected to grow at a constant rate of 5% a year. The required rate of return on the stock, rs, is 14%. What is the stock's current value per share? Round your answer to two decimal places.

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