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Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs

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Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $10 per share 10 years from today and will increase the dividend by 7 percent per year thereafter. If the required return on this stock is 13 percent, what is the current share price? Multiple Choice $49.10 $55.48 $57.15 $58.25 $52.71

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