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1. Truncate, Inc. is the name of a stock you recently purchased. The company recently announced that it expects to pay out 5 dividends for
1. Truncate, Inc. is the name of a stock you recently purchased. The company recently announced that it expects to pay out 5 dividends for 5 successive years. The first dividend will be paid out in one year and will be $3. For each of the following years (the next 4 years), the dividend will go up 10% each year. The company will then cease paying out dividends. The interest rate is 6.2%. What is the current price of the stock
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