Question: will like for correct answer asap Assume that a share of stock has just paid an annual dividend of $3.00(DO), and that this dividend is

will like for correct answer asap

Assume that a share of stock has just paid an annual dividend of $3.00(DO), and that this dividend is expected to grow by $0.07 in each future year (i.e., $3.07 in Year 1,$3.14 in Year 2, \$3.21 in Year 3, etc.). Also assume that investors require a 14.0 percent rate of return. Given this information, and using the Banko growth model, determine what the current price of this stock should be. Answer in XX.XX format, with no dollar sign. For example, if your answer is $18.29, enter "18.29

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