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Because of many reinvestment opportunities, the XYZ Company is not expectedto pay any dividends for the next 4 years.Beginning 5 years from today,investors expect to

Because of many reinvestment opportunities, the XYZ Company is not expectedto pay any dividends for the next 4 years.Beginning 5 years from today,investors expect to receive a dividend of $2 per share for 3 years and then a dividend of $3 per share for each of the next 4 years.Then dividends areexpected to grow at 2% per year forever.If investors require a 15% return, whatis the price per share?

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