Apocalyptica corp pays a constant 860 dividend on its stock, Financial Management

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Apocalyptica corp pays a constant 860 dividend on its stock

Apocalyptica Corp. pays a constant $8.60 dividend on its stock. The company will maintain this dividend for the next 11 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price? (Round your answer to 2 decimal places. (e.g., 32.16))

Current share price $

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Financial Management: Apocalyptica corp pays a constant 860 dividend on its stock

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Financial Management: Apocalyptica corp pays a constant 860 dividend on its stock

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