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A company just paid a dividend of $1 per share. The company plans to increase its dividend by 7% the next 2 years, after which
A company just paid a dividend of $1 per share. The company plans to increase its dividend by 7% the next 2 years, after which it is expected the company will maintain a constant dividend growth rate of 3% forever. The stock has a required return of 12%. What will a share of the company's stock sell for 2 years from today?
Do not round intermediate calculations.Round the final answer to 2 decimal places.Omit any commas and the $ sign in your response.For example, an answer of$1,000.50 should be entered as 1000.50.
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