An issue of common stock has an expected dividend to be paid at the end of the year of $5 per share, and has an expected growth
rate for the foreseeable future of 5% per year. If investors’ required rate of return for this particular security is 12% per year, how much should it be selling for? Round to the nearest cent. Do not include the dollar sign in your answer. (i.e. If your answer were $1.23, then type 1.23 without a $ sign
