Homewok #5B (Value of Common Stock, Expected Rate of return on Common Stock)

Homewok #5B (Value of Common Stock, Expected Rate of return on Common Stock) 

Finance

Question 2 (1 point)

The next year the common stock of Gold Corp. will pay a dividend of $5.62 per share. If the company is growing at a rate of 3.83 percent per year, and your required rate of return is 11.21 percent, what is Gold's company stock worth to you?

Round the answer to two decimal places.