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Magnetic Corporation expects dividends to grow at a rate of 18.6% for the next two years. After two years dividends are expected to grow at

Magnetic Corporation expects dividends to grow at a rate of 18.6% for the next two years. After two years dividends are expected to grow at a constant rate of 5.1%, indefinitely. Magnetics required rate of return is 12.6% and they paid a $1.02 dividend today. What is the value of Magnetic Corporations common stock per share? (Show your answers to the nearest cent) Dividend at end of year 1 = Dividend at end of year 2 = Dividend at end of year 3 = Price of stock at end of year 2 = Price of stock today

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