Boehm incorporated is expected to pay a 160 per share, Ask an Expert

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Boehm Incorporated is expected to pay a $1.60 per share dividend at the end of this year (i.e., D1 = $1.60). The dividend is expected to grow at a constant rate of 3% a year. The required rate of return on the stock, rs, is 17%. What is the value per share of the company's stock? Round your answer to the nearest cent.

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