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New Gadgets, Inc, currently pays no dividond but is expected to pay its first annunt dividend of $5.15 per share exactly 6 years from today.

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New Gadgets, Inc, currently pays no dividond but is expected to pay its first annunt dividend of $5.15 per share exactly 6 years from today. After that, the dividends are expected to grow at 4 percent forever. If the requited return is 11.8 percent, what is the price of the stock today? Multiple Choice 537.80 53381 566:03 $5427 54410

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