Supply Chain Management (BUSN 6051)

Upper Gullies Corp. just paid a dividend of $1.80 per share. The dividends are expected to grow at 21% for the next eight years and then level off to a 6% growth rate indefinitely. If the required return is 13%, what is the price of the stock today? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Stock price