Kelsey Drums is a well-established supplier of fine percussion instruments. The companys common stock has paid a dividend of $5 per share per year for the last 15 years. Management expects to continue to pay at the same amount for the near future. If the current required rate of return on the stock is 12%, what is the fair price of Kelsey Drums

Questions: Kelsey Drums is a well-established supplier of fine percussion instruments. The company common stock has paid a dividend of $5 per share per year for the last 15 years. Managemen expects to continue to pay at the same amount for the near future. If the current required rate o return on the stock is 12%, what is the fair price of Kelsey Drums