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Kelligrews Inc. has an odd dividend policy. The company has just paid a dividend of $3 per share and has announced that it will increase
Kelligrews Inc. has an odd dividend policy. The company has just paid a dividend of $3 per share and has announced that it will increase the dividend by $5 per share for each of the next five years, and then never pay another dividend. If you require an 11% return on the companys stock, how much will you pay for a share today? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Current share price
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