LO 1 7.2 Stock Valuation A substantial percentage of the companies listed on the NYSE and the NASDAQ don't pay dividends, but investors are nonetheless willing to buy shares in them. How is this possible given your answer to the previous question? 7.11 Stock Valuation Evaluate the following statement: Managers should focus on the current stock value because doing so will lead to an overemphasis on short-term profits at the expense of long-term profits LO 1 1. Stock Values Fowler, Inc., just paid a dividend of $2.55 per share on its stock. The dividends are expected to grow at a constant rate of 3.9 percent per year, indefinitely. If investors require a return of 10.4 percent on this stock, what is the current price? What will the price be in 3 years? In 15 years