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Fly High Co. is expected to pay a $1.7 per share dividend at the end of...

Fly High Co. is expected to pay a $1.7 per share dividend at the end of the year (i.e.,D1). The dividend is expected to grow at a constant rate of 2% a year. The required rate of return on the stock, r, is 10%. What is the value per share of the company's stock? Round your answer to two decimal places.

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Expected to pay dividend per share, D1S1.7 Growth rate, g-2% Required return of stock. RR-10% Value per share of the Companys stock, PO D1/RR - g) $1.7 / (1090-290) -$21.25 Per share

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