Problem:
Apocalyptica Corporation is expected to pay the following dividends over the next four years: $6.90, $17.90, $22.90, and $4.70. Afterwards, the company pledges to maintain a constant 6.00 percent growth rate in dividends, forever.
Required:
Question: If the required return on the stock is 10 percent, what is the current share price?
Note: Show supporting computations in good form.