Bioscience inc will pay a common stock dividend of 750 at

Question

Question: BioScience Inc. will pay a common stock dividend of $7.50 at the end of the year (D₁), The required return on common stock (K_e) is 20 percent. The firm has a constant growth rate (g) of 9 percent. Compute the current price of the stock (P₀). (Do not round intermediate calculations. Round your answer to 2 decimal places.)