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Erna Company is expected to pay a dividend of $2.77 one year from today and $2.92...

Erna Company is expected to pay a dividend of $2.77 one year from today and $2.92 two years from today. The company's sales in two years are expected to be $16,350,000. The company has a PS ratio of 1.95 times, and 530,500 shares outstanding. If the required return on the company's stock is 12.2 percent, what is the current stock price?

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Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

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