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Hot Wings, Inc., has an odd dividend policy. The company has just paid a dividend of $10.50 per share and has announced that it will
Hot Wings, Inc., has an odd dividend policy. The company has just paid a dividend of $10.50 per share and has announced that it will increase the dividend by $8.50 per share for each of the next four years, and then never pay another dividend. If you require a return of 14 percent on the companys stock, how much will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current share price $
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