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Pentax Corporation is expected to pay $2 dividends per share next year (i.e. one year from today, or the end of year 1). Its required
Pentax Corporation is expected to pay $2 dividends per share next year (i.e. one year from today, or the end of year 1). Its required rate of return on equity is 10%. Dividends are expected to grow at 10%, 9%, 8% per year for years 2, 3, and 4 respectively, and then slow down to a steady long-term growth rate of 5% for year 5 and beyond. What is the fair value of the companys stock price per share today
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