Equity InvestmentsA stock pays a dividend of $3 next year. Dividends are expected to grow at 5% perpetually. If the required return is 11%, what is the intrinsic value per share using the Gordon Growth Model?

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Equity Investments<br>A stock pays a dividend of $3 next year. Dividends are expected to grow at 5% perpetually. If the required return is 11%, what is the intrinsic value per share using the Gordon Growth Model?