1. Stock Values

Courageous, Inc. just paid a dividend of $1.80per share on its stock. The dividends are expected to grow at a constant rate of3 percent per year, indefinitely.If investors require a 12 percent return on Courageous stock, what is the current price?What will the price be in3 years?In 15 years?

Current Price: $____________.

Price in Three Years: $____________.

Question 2 options:

Price in Fifteen Years: $____________.

Question 3 options: