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A Question 8: Let's say you want to purchase shares of Fournier Ltd. and then hold this stock for six years. The company has
A Question 8: Let's say you want to purchase shares of Fournier Ltd. and then hold this stock for six years. The company has a stated dividend policy of $2.25 annually per share for the next six years, at the end of which time you will sell the stock. You expect to be able to sell the stock for $35 at that time. If you want to earn an 8.5% return on this investment, 15 what price should you pay today for this stock? Use the PV() function.
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