The growth rate in dividends is expected to be constant

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Sea Side, Inc., just paid a dividend of $2.16 per share on its stock. The growth rate in dividends is expected to be a constant 5.8 percent per year indefinitely. Investors require a return of 18 percent on the stock for the first three years, then a 13 percent return for the next three years, and then a 11 percent return thereafter. What is the current share price? Round to the nearest two decimal points.

Reference no: EM131058525

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