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Maria Miller is interested in buying the stock of Sheridan, Inc., which is increasing its dividends at a constant rate of 10.0 percent. Last year the firm paid a dividend of $2.65. The required rate of return is 15.00 percent. What is the current value of this stock? (Round answer to 2 decimal places, e.g. 15.20.)

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Maria Miller is interested in buying the stock of Sheridan, Inc., which is

increasing its dividends at a constant rate of 10.0 percent. Last year the firm paid a dividend of $2.65. The required rate of return is 15.00 percent.

What is the current value of this stock? (Round answer to 2 decimal places, e.g. 15.20.)

 
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