You are currently thinking about investing in a stock priced at $22.00 per share. The stock recently paid a dividend of $2.40, and its dividend is expected to grow at a rate of 4 percent for the foreseeable

You are currently thinking about investing in a stock priced at $22.00 per share. The stock recently paid a dividend of $2.40, and its dividend is expected to grow at a rate of 4 percent for the foreseeable future. You normally require a return of 14 percent on stocks of similar risk. Is the stock overpriced, underpriced, or correctly priced? (Round answer to 2 decimal places, eg. 52.75.) Current value of the stock $ ___

The stock is at $22.00

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