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  3. sea side, inc., just paid a dividend of exist2 per

Sea Side, Inc., just paid a dividend of exist2 per share on its stock. The...

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Accounting

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Sea Side, Inc., just paid a dividend of exist2 per share on its stock. The growth rate in dividends is expected to be a constant 5.7 percent per year indefinitely. Investors require a return of 14 percent on the stock for the first three years, then a 9 percent return for the next three years, and then a 7 percent return thereafter. What is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "exist" sign in your response.)

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