Question
Estes Park Corp. pays a constant $8.60 dividend on its stock. The company will maintain this dividend for the next 11 years and will then
| Estes Park Corp. pays a constant $8.60 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 11 percent, what is the current share price?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Current share price | $ |
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Microeconomics
Authors: Glenn Hubbard, Anthony O'Brien
7th Edition
0134737504, 978-0134737508
