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Alexander Corp. will pay a dividend of $3.20 next year. The company has stated that it will maintain a constant growth rate of 5 percent
Alexander Corp. will pay a dividend of $3.20 next year. The company has stated that it will maintain a constant growth rate of 5 percent a year forever.
Requirement 1:If you want a return of 17 percent, how much will you pay for the stock?(Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)
Current stock price$Requirement 2:If you want a return of 11 percent, how much will you pay for the stock?(Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)
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