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Comfort Ice Cream has plans to pay decreasing annual dividends of $1.72, $1.6, and $1.46 over the next three years, respectively. After that, the firm
Comfort Ice Cream has plans to pay decreasing annual dividends of $1.72, $1.6, and $1.46 over the next three years, respectively. After that, the firm will increase the dividend by 4.5 percent each year. What is the value of this stock today at a discount rate of 12.2 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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