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Pharsalus Inc. just paid a dividend (i.e., D0) of $ 0.90 per share. This dividend is expected to grow at a rate of 3.8 percent per year forever. The appropriate discount rate for Pharsalus’s stock is 15.4 percent. What is the price of the stock? (Round your answer to 2 decimal places and record your answer without dollar sign or commas).

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Pharsalus Inc. just paid a dividend (i.e.,

D0) of $ 0.90 per share. This dividend is expected to grow at a rate of 3.8 percent per year forever. The appropriate discount rate for Pharsalus’s stock is 15.4 percent. What is the price of the stock? (Round your answer to 2 decimal places and record your answer without dollar sign or commas).

 
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