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8. (10 points) Stock Value - uneven growth. You are considering an investment in the common stock of FJK Clinical Research, and your assistant has
8. (10 points) Stock Value - uneven growth. You are considering an investment in the common stock of FJK Clinical Research, and your assistant has estimated (forecast) the dividends expected over the next three years to be $.32, $.48, and $3.26, respectively. Thereafter, dividend payments are estimated to grow at 2.20% per year. You are considering the purchase of FJK stock. If you require a 9.50% rate of return, what is the value per share of FJK Clinical Research common stock
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