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Planned Obsolescence has a product that will be in vogue for 3 years, at which point the firm will close up shop and liquidate the
Planned Obsolescence has a product that will be in vogue for 3 years, at which point the firm will close up shop and liquidate the assets. As a result, forecast dividends are DIV1 = $4.00, DIV2 = $4.50, and DIV3 = $20.00.
What is the stock price if the discount rate is 11%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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