KAT, Inc. recently paid a dividend of $3.50/share. Analysts expect KAT to grow at a rate of 3.5% indefinitely.
If the required return for KAT is 9.3%, what is the estimated value of a share of KAT's equity?
The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.