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Anton, Inc., just paid a dividend of $2.50 per share on its stock. The dividends are expected to grow at a constant rate of 5.25
Anton, Inc., just paid a dividend of $2.50 per share on its stock. The dividends are expected to grow at a constant rate of 5.25 percent per year, indefinitely. Assume investors require a return of 9 percent on this stock.
Requirement 1: |
What is the current price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Requirement 2: What will the price be in six years and in thirteen years? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) |
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