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A stock paid its annual dividend of $4.00 per share, yesterday. The dividend growth rate for the stock is expected to be 20 percent per
A stock paid its annual dividend of $4.00 per share, yesterday. The dividend growth rate for the stock is expected to be 20 percent per year for the next two years. Thereafter, the dividend growth rate is expected to be 3.50 percent per year indefinitely. The appropriate discount rate for the stock is 11.80 percent. Determine the price of the stock today. $57.83 O $66.37 O $70.36 $55.21 O $69.04
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