$11$

Orkazana Corporation is experiencing rapid growth. Dividends are expected to grow at $26$ percent per year during the next three years, $16$ percent over the following year, and then $6$ percent per year indefinitely. The required return on this stock is $12$ percent, and the stock currently sells for $$84$ per share. What is the projected dividend for the coming year? $($Do not round intermediate calculations and round your answer to $2$ decimal

$6\mathrm{.}25$ places, e$.$g$.,32\mathrm{.}16.)$

points

Skipped

Projected dividend

eBook

Hint