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Generic numerical entry instructions: Enter only your final numerical answer, rounded and expressed as requested and the only non-number you should enter (if appropriate) is
Generic numerical entry instructions: Enter only your final numerical answer, rounded and expressed as requested and the only non-number you should enter (if appropriate) is a period as in 12.34 or a minus sign immediately in front of an answer to denote a negative number. The system will insert a comma for you for large numbers. Do not include an equals sign, dollar sign, percent sign, quotes, a space, any text or punctuation (except the period or minus sign if appropriate). For example, if asked to round to the nearest 2 decimal places, -S1,234.567 should be entered as - 1234.57, not as - $1,234.57 with the dollar sign, not as (1234.57) with parentheses, and not as - 1234.56 which is rounded incorrectly. If asked for the nearest integer, enter 1234 and nothing else. The negative sign (if needed) should be to the left of the + sign on your keyboard. A rate of return of 12.36% rounded to the nearest 3 decimal places should be entered as 0.124, not as 12.4%, not as 0.123, not as 0.1236, etc., but only as 0.124). Please read carefully below for how your answer is to be calculated. Jasper, Inc. just paid an annual dividend of $10.00 per share. The next two annual dividends are expected to grow 24% per year, and annual dividends thereafter are expected to grow at 5% per year, forever. If the firm's cost of equity capital is 17% per year, what should be the price today of one share of stock? Express your answer rounded and accurate to the nearest penny. (i.e., two decimal places). Do not include a dollar sign
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