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An investor is going to buy stock, collect dividend payments for 5 years, then sell the stock. The investor wants to earn 7 . 5

An investor is going to buy stock, collect dividend payments for 5 years, then sell the stock. The investor wants to earn 7.5% return on investment. Based on the following details, what is the maximum price the investor should be willing to pay for this stock? Most recent historical dividend (at "year 0")= $3.00Expected growth rate of dividends =5.00% until end of year 5Expected growth rate of dividends =2.00% after year 5 in perpetuity

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