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Question: Staal Corporation will pay a $3.22 per share dividend next year. The company pledges to increase ...

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Stock price=Dividend for next period/(Required return-Growth rate)

=$3.22/(0.11-0.06)

=$64.40.

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HOW CAN I FIGURE THIS IN EXCEL, PLEASE

Staal Corporation will pay a $3.22 per share dividend next year. The company pledges to increase its dividend by 6 percent per year indefinitely. If you require a return of 11 percent on your investment, how much will you pay for the company's stock today? (Round your answer to 2 decimal places. (e.g., 32.16)) Stock price