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WTC is expected to pay a dividend of $1.50 in the upcoming year. The risk-free...

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Finance

WTC is expected to pay a dividend of $1.50 in the upcoming year. The risk-free rate of return is 6%, and the expected return on the market portfolio is 14%. Analysts expect the price of WTC shares to be $24 a year from now. The beta of the stock is 1.2. Using the CAPM, compute the intrinsic value of WTC's stock. Round your answer to 2 decimal places, and enter your answer without the dollar sign.

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