Answer:
The current share price $85.60
Explanation:
Share Price is the present value of all the future dividends associated with that share.
Use following formula to calculate the value of share at year 9.
Price of share at year 9 = Dividend / ( Required rate of return - growth rate )
Price of share at year 9 = $18 / ( 13% - 6% )
Price of share at year 9 = $257.14
The Current Price of the bond can be calculated by discounting the Price of share at year 9.
Current Price = Price of share at year 9 x ( 1 + r )^-n
Current Price = $257.14 x ( 1 + 13% )^-9
Current Price = $85.60