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Heathcliff ids considering purchasing shares Knight Industries common stock. Knight paid a $3.00 dividend 5 years ago. Today, it paid a $4.21 dividend. If the

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Heathcliff ids considering purchasing shares Knight Industries common stock. Knight paid a $3.00 dividend 5 years ago. Today, it paid a $4.21 dividend. If the market required rate of return on Knight common stock is 17%, what is a fair price for a share of Knight? Hint: You have to calculate the rate at which the dividend grew over 5 years. This is a TVM application. Round your growth rate to the nearest full percent. Round final answer to the nearest cent. That is two decimal places. Do NOT use a dollar sign. Your

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