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answer i s provided, I'd just like to know what calculations are happening to arrive at 63.33? thank you 7. Stock Valuation (LD1) Goulds Corp.

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answer is provided, I'd just like to know what calculations are happening to arrive at 63.33? thank you

7. Stock Valuation (LD1) Goulds Corp. pays a constant $9.75 dividend on its stock. The company will maintain this dividend for the next 11 years and will then cease paying dividends forever. If the required return on this stock is 10 percent, what is the current share price? Po = $9.75(PVIFAMI) = $63.33

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