11. 1.0 points value: The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.24 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year indefinitely Required: (a) If investors require a 13 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price? (Click to select) (b) What will the price be in 12 years? (Click to select) E References eBook & Resources Learning Objective: 08-01 How stock prices depend on future dividends and dividend growth. Worksheet Section: 8.1 Common Stock Valuation Difficulty: Basic Check my work