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Mattel Inc. was trading at a price of $ 9 . 9 9 per common share at December 3 1 , 2 0 1 8

Mattel Inc. was trading at a price of $9.99 per common share at December 31,2018. Using the Gordon Growth model, estimate the markets expected growth in dividends that is required to yield the $9.99 price per common share. Assume that the current dividend per share is $0.30 and is expected to grow thereafter, and that the cost of equity capital is 12.5%.(Hint: Use the equation for the dividend discount model with increasing perpetuity, at the top of page 12-20.)
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