What is the stocks current value per share

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Reference no: EM13911806

Thomas Brothers is expected to pay a $3.6 per share dividend at the end of the year (that is, D1 = $3.6). The dividend is expected to grow at a constant rate of 3% a year. The required rate of return on the stock, rs, is 11%. What is the stock's current value per share? Round your answer to two decimal places.

Reference no: EM13911806

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