Zenon Corp. just paid a $1.5 dividend/share on its common stock. Dividends in each of...
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Zenon Corp. just paid a $1.5 dividend/share on its common stock. Dividends in each of the next three years (in order) are expected to be $1.75, $1.80, and $1.95. After year 3, dividends are expected to grow at the rate of 5% per year. An appropriate required return for the stock is 12%. Find the present value of the stock. Round intermediate steps to four decimals and your final answer to two decimals. Do not use the dollar sign when entering your answer.
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