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Auto: Sve o File Home 9.0 insert Design Decamet2 - Word Layout Review View H elp Search References A A Comments Calibri (Body) - 16

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Auto: Sve o File Home 9.0 insert Design Decamet2 - Word Layout Review View H elp Search References A A Comments Calibri (Body) - 16 K Malings A E 21 . ABCD Abc Normal Aabba Abbccc AaB Aabet dobo Heading 1 Heading 2 Title Subtitle Stem. Share Find Replace Dictate X X s CD 400 AC has . Song - Tomat Pande Clipboard 3. John Cougar has just added Mellencamp, Inc. stock to his portfolio. The stock is expected to pay its first dividend of $2.28 two years from now. The dividend at t=3 will be $3.15 and then at the end of the 4th year, the dividend will be $4.05. After the fourth year, future dividends are expected to increase at the rate of 4% per year, forever. If the stock's required rate of return is 12%, what should the stock price be today? (4 pts.)

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