Metallica BearingsInc., is a young start-up companyNo 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 $8 per share dividend in 10 years and will increase the dividend by 5 percent per year thereafter . 20 Required : If the required return on this stock is 11 percentwhat is the current share price? Note: find the price of the stock one year before the company starts paying a dividend , using the dividend growth model. Then find the PV of the price, using your TVM keys. (Do not round your intermediate calculations .)

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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 $8 per share dividend in 10 years and will increase the dividend by 5 percent per year thereafter. Required: If the required return on this stock is 11 percent, what is the current share price? Note: find the price of the stock one year before the company starts paying a dividend, using the dividend growth model. Then find the PV of the price, using your TVM keys. (Do not round your intermediate calculations.) $49.52 O $53.69 O $46.96 $54.73 $52.12