OPL Corporation is expected to pay a dividend of $3 in the u…
OPL Corporation is expected to pay a dividend of $3 in the upcoming year. Dividends are expected to grow at the rate of 6% per year. The risk-free rate of return is 4%, and the expected return on the market portfolio is 12%. The stock of OPL Corporation has a beta of 0.75. Using the constant-growth DDM, the intrinsic value of the stock is __________.