Leisure Lodge Corporation Is Expected To Pay The Following Dividends Over The Ne (1)

Leisure Lodge Corporation is expected to pay the following dividends over the next four years: $21.87, $13.42, $6.57 and $3.04. Afterwards, the company pledges to maintain a constant 4 percent growth rate in dividends forever. If the required return on the stock is 15 percent, what is the current share price?

(Do not round intermediate calculations. Round your answer to 2 decimal places.)

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