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*Please show your work using a financial calculator and all inputs used* 8. Magazine Louise Inc just paid a dividend of $7.00 per share. The

image text in transcribed*Please show your work using a financial calculator and all inputs used*

8. Magazine Louise Inc just paid a dividend of $7.00 per share. The firm is preparing to pay an annual dividend of $8.50 per share one year from now. After that, the annual dividends are expected to increase by 3 percent annually. What is one share of this stock worth today at a required rate of return of 12 percent? (5 points)

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