Stock is expected to pay the dividends

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A stock is expected to pay the following dividends: $1.30 in 4 years, $1.50 in 5 years, and $1.95 in 6 years, followed by growth in the dividend of 6% per year forever after that point. There will be no dividends prior to year 4. The stock's required return is 13%. The stock's current price (Price at year 0) should be $____________. Do not round any intermediate work, but round your final answer to 2 decimal places

Reference no: EM131062833

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