Intro A stock just paid an annual dividend of $5.4. The dividend is expected to grow by 4% per year for the next 4 years. In 4 years, the P/E ratio is expected to be 12 and the payout ratio to be 60%. The required rate of return is 8%. Part 1 Attempt 1//3 for 10 pts. What is the value of the stock?

Intro A stock just paid an annual dividend of $5.4. The dividend is expected to grow by 4% per year for the next 4 years. In 4 years, the P/E ratio is expected to be 12 and the payout ratio to be 60%. The required rate of return is 8%. Part 1 Attempt 1/3 for 10 pts. What is the value of the stock