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Pharsalus Inc. just paid a dividend {i.e., D0} of $ 1.91 per share. This dividend is expected to grow at a rate of 12 peroent per 1“rear forever. The appropriate diaoount rate for Pharsalus’s stock is 15.5 percent. What is the price of the stock? (Round your answer to 2 decimal places and record 1,.I’our answer without dollar sign or commas-1|.

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Pharsalus Inc. just paid a dividend {i.e., D0} of $ 1.91 per share. This dividend is expected to grow at a rate of 12 peroent per
1“rear forever. The appropriate diaoount rate for Pharsalus’s stock is 15.5 percent. What is the price of the stock? (Round your
answer to 2 decimal places and record 1,.I’our answer without dollar sign or commas-1|.

 
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