of winter. The firm pays a dividend to its shareholders every four months, with each dividend being 1.31.3% larger in size than the previous one. The firm has a cost of equity capital of 25.625.6% per annum (compound

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Bernie's Mittens is a supplier of bespoke mittens designed keep your hands warm while you sit brooding through a cold outdoor event in the middle of winter. The firm pays a dividend to its shareholders every four months, with each dividend being 1.31.3% larger in size than the previous one. The firm has a cost of equity capital of 25.625.6% per annum (compounded annually) and they have just paid their most recent dividend of $$35.9835.98 to existing investors earlier today.

Given the above information, the price per share of Bernie's Mittens should now be $$.
(Round your answer to the nearest cent)

 

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