Pharsalus Inc. just paid a dividend (i.e., D0) of $ 2.29 per share. This dividend is expected to grow at a rate of 4.1 percent per year forever. The appropriate discount rate for Pharsalus’s stock is 14.7 percent. What is the price of the stock? (Round your answer to 2 decimal places and record your answer without dollar sign or commas).
Pharsalus Inc. just paid a dividend (i.e., D0) of $ 2.29 per share. This dividend is expected to grow at a rate of
4.1 percent per year forever. The appropriate discount rate for Pharsalus’s stock is 14.7 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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