Question - Assume that Procter & Gamble is expected to pay a dividend of $0.50 per share at the end of the year (it's next dividend). The dividend is expected to grow at a constant rate of 7% per year. The required return on the stock is 15%. What is the present value (or current price) of the stock? For this question, instead of rounding to the nearest dollar, round your answer to the nearest cent.