Question

7)BioScience Inc. will pay a common stock dividend of $7.20 at the end of the year (D₁). The required return on common stock (K_e) is 20 percent. The firm has a constant growth rate (g) of 8 percent.
Compute the current price of the stock (P₀). (Do not round intermediate calculations. Round your answer to 2 decimal places.)
  Current price$

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