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Jim's Jerky Inc. does not currently pay a dividend and it does not expect to pay a dividend for the next 6 years. Beginning in
Jim's Jerky Inc. does not currently pay a dividend and it does not expect to pay a dividend for the next 6 years. Beginning in 7 years, however, the dividend is expected to be $5 and it is expected to increase by 4% per year thereafter. If the required return on this stock is 12%, what is the current stock price? Suppose Shelley's Software Company is considering a project that requires an initial investment of $2,000,000. If the project will produce an annual cash flow of $380,000 for 9 years, what is this project's IRR? State your answer as a percentage with two decimals, X.XX%
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