You expect Kraken Enterprises to make total dividend payouts of $5.03 million at the end...
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You expect Kraken Enterprises to make total dividend payouts of $5.03 million at the end of this year. Assume that all payouts occur annually at the end of the year and that we are at the beginning of the year. You also forecast that Kraken's payouts will grow at 4% in perpetuity. Kraken stockholders require a return of 9%. Kraken has 1 million shares outstanding. What is the fair price for Kraken's shares today? (Round to the nearest cent.
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