Define the current share price

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Reference no: EM131556009

Sea Side, Inc., just paid a dividend of $2.4 per share on its stock. The growth rate in dividends is expected to be a constant 6.4 percent per year indefinitely. Investors require a return of 24 percent on the stock for the first three years, then a 19 percent return for the next three years, and then a 17 percent return thereafter. What is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Share price $

Reference no: EM131556009

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