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1. Macro Software just paid a dividend of $2 per share. You expect this dividend to grow at 15% per year for the next
1. Macro Software just paid a dividend of $2 per share. You expect this dividend to grow at 15% per year for the next 10 years. After that, the dividend should slow down to a 6% growth rate for the next 10 years. At that point, the dividend will slow to a long-term growth rate of 2%. You believe that 12% is an appropriate discount rate for the firm's shares. What should be the price of the shares today?
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