Sunland Corp. is expected to pay a dividend of $2.65 next year. The forecast for the stock price a year from now is $36.50. If the required rate of return is 16 percent, what is the current stock price? Assume constant growth. (Round answer to 2 decimal places, e.g. 15.20.)

    Current hoard price=Future dividends and compute*Present compute of discounting constituent(rate%,occasion date)

    =2.65/1.16+36.5/1.16

    which is similar to

    =$33.75