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CX Enterprises has the following expected dividends: $1.11 in one year, $1.24 in two years, and $1.32 in three years. After that, its dividends are expected to grow at 4.5% per year forever (so that year four's dividend will be 4.5% more than $1.32 and so on). If CX's equity cost of capital is 11.7% what is the current price of its stock? The price of the stock will be $. (Round to the nearest cent.) Laurel Enterprises pays annual dividends, and the next dividend is expected to be in one year. Laurel expects earnings next year of $3.91 per share and has a 50% retention rate, which it plans to keep constant. Its equity cost of capital is 11%, which is also its expected return on new investment; this is expected to continue forever. What do you estimate the firm's current stock price to be? (Hint: its next dividend is due in one year.) The current stock price will be \$ (Round to the nearest cent.) Summit Systems will pay an annual dividend of $1.53 this year. If you expect Summit's dividend to grow by 5.3% per year, what is its price per share if the firm's equity cost of capital is 11.9% ? The price per share is $ (Round to the nearest cent.)