Question 11 A company has announced the growth rate of its dividend going forward will be 2% annually forever. The dividend in year 5 will be $3.00. The discount rate on the stock is 10%. What will the stock price be in year 16? (MIDTERM PREP!) O 12.37 47.56 37.52 10 pts 15.85

A company has announced the growth rate of its dividend going forward will be 2% annually forever. The dividend in year 5 will be $3.00. The discount rate on the stock is 10%. What will the stock price be in year 16 ? (MIDTERM PREP!) 12.37 47.56 37.52 15.85