Cullumber, Inc., paid a dividend of $3.71 last year. The company’s management does not expect to increase its dividend in the foreseeable future. If the required rate of return is 14.0 percent, what is the current value of the stock? (Round answer to 2 decimal places, e.g. 15.25.)

    current compute of the fund $26.50
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    Statementshowing Computations
    Paticulars Amount
    Dividend per year                          3.71
    required admonish of return 14%
    current compute of the fund =3.71/14%                        26.50