finance-Lauren Corp. just paid a dividend of $3.50 per share

QUESTION

Lauren Corp. just paid a dividend of $3.50 per share, and that dividend is expected to grow at a constant rate of 4.00 percent per year in the future. The required return on the market (rm) is 9.00 percent, the risk-free rate is currently 4.00 percent, and the company’s beta is 1.60. What is Walsh’s current stock price?SHOW ALL WORK AND USE AT LEAST 4 DECIMAL PLACES (e.g., 12.25% = .1225).

ANSWER:

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