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Ackert Company's last dividend was $1.55. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected
Ackert Company's last dividend was $1.55. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 8.0% forever. The firm's required return (rs) is 11.66%. What is the best estimate of the current stock price? \begin{tabular}{|} $38.16 \\ $41.70 \\ $39.30 \\ $37.05 \\ $40.48 \end{tabular}
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