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WindsorInc. has just paid a dividend of $5.00. An analyst forecasts annual dividend growth of9percent...

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Accounting

WindsorInc. has just paid a dividend of $5.00. An analyst forecasts annual dividend growth of9percent for the next five years; then dividends will decrease by 1 percent per year in perpetuity. The required return is12percent (effective annual return, EAR). What is the current value per share according to the analyst?(Round present value factor calculations to 5 decimal places, e.g. 1.54667 and other intermediate calculations to 3 decimal places, e.g.15.612. Round final answer to 2 decimal places, e.g.15.61.)

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