Tresnan brothers is expected to pay a 16 per share dividend, Ask an Expert

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Tresnan Brothers is expected to pay a $1.6 per share dividend at the end of the year (i.e., D1 = $1.6). The dividend is expected to grow at a constant rate of 10% a year. The required rate of return on the stock, rs, is 12%. What is the stock's current value per share? Round your answer to two decimal places.

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