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(Estimated time allowance: 9 minutes) ETP Corp. paid an annual dividend last year of $20 per share. The company follows a policy to raise dividends
(Estimated time allowance: 9 minutes) ETP Corp. paid an annual dividend last year of $20 per share. The company follows a policy to raise dividends each year by 4%. The company will be in business for 6 years and not have a liquidating dividend. The required rate of return for this investment is 10%. What is the price of this stock today? For your answer, round to 2 decimals and do ot use the $. For example, if your result is $103.679 then enter 103.68; if your esult is $10 then enter 10.00; if your result is $8.4 then enter 8.40 ur Answer: Answer Page 11 o ous Page Next Page
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