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Procter and Gamble (PG) paid an annual dividend of $2.87 in 2018. You expect PG to increase its dividends by 7.3% per year for the
Procter and Gamble (PG) paid an annual dividend of $2.87 in 2018. You expect PG to increase its dividends by 7.3% per year for the next five years (through 2023), and thereafter by 3.4% per year. If the appropriate equity cost of capital for Procter and Gamble is 7.9% per year, use the dividend-discount model to estimate its value per share at the end of 2018. The price per share is $ . (Round to the nearest cent.)
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