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Ocala Companys stock is currently selling for $19.50 per share. At the end of the year, the company plans to pay a dividend equal to
Ocala Companys stock is currently selling for $19.50 per share. At the end of the year, the company plans to pay a dividend equal to $2.34 per share. For the remainder of the companys life, dividends are expected to grow at a constant rate, and investors are expected to require a 16 percent return to invest in Ocalas stock. What should be the value of Ocalas stock five years from now?
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