Suppose a stock has a required return of 12 percent. You expect the next two annual dividends are ( $ 2.33 ) and ( $ 4.43 ). The third dividend and beyond will grow at a constant 3 percent forever. What is the current price of the stock? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in

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Suppose a stock has a required return of 12 percent. You expect the next two annual dividends are  (  $ 2.33  ) and  (  $ 4.43  ). The third dividend and beyond will grow at a constant 3 percent forever. What is the current price of the stock? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below.)

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