Burnett Corp. pays a constant $8.45 dividend on its stock. The company will maintain this dividend for the next 15 years

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Burnett Corp. pays a constant $8.45 dividend on its stock. The company will maintain this dividend for the next 15 years

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Burnett Corp Pays A Constant 8 45 Dividend On Its Stock The Company Will Maintain This Dividend For The Next 15 Years 1
Burnett Corp Pays A Constant 8 45 Dividend On Its Stock The Company Will Maintain This Dividend For The Next 15 Years 1 (15.68 KiB) Viewed 18 times
Burnett Corp. pays a constant $8.45 dividend on its stock. The company will maintain this dividend for the next 15 years and will then cease paying dividends forever. If the required return on this stock is 13 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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