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Problem 6-17 Multiple Growth Rates (LO2, CFA6) Netscrape Communications does not currently pay a dividend. You expect the company to begin paying a dividend of

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Problem 6-17 Multiple Growth Rates (LO2, CFA6) Netscrape Communications does not currently pay a dividend. You expect the company to begin paying a dividend of $4.00 per share in 14 years, and you expect dividends to grow perpetually at 5 percent per year thereafter. If the discount rate is 13 percent, how much is the stock currently worth? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. $ 9.49 Price

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