12. The Jackson-Timberlake Wardrobe Co just paid a dividend of $1.80 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year indefinitely Investors require a return of 11 percent on the company's stock What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e... 32.16.) Current price $ What will the stock price be in three years? (Do not round intermediate calculations and round your answer to 2 decimal places, e... 32.16.) Stock price What will the stock price be in 16 years? (Do not round intermediate calculations and round your answer to 2 decimal places, eg 32.16.) Stockonice Hints