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Five Star Corporation will pay a dividend of $3.18 per share next year. The company pledges to increase its dividend by 5.5 percent per
Five Star Corporation will pay a dividend of $3.18 per share next year. The company pledges to increase its dividend by 5.5 percent per year indefinitely. If you require a return of 10 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Stock price $ 74.55 x
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