Question $5$

$\frac{0}{12\mathrm{.}5}pts$

Fesla just paid a dividend of $$3\mathrm{.}5$ per share and it is expected to grow $16\%$ each year for the next $3$ years. After that, dividends will have a constant growth of $3\%$ annually. The required rate of return for this stock is $10\%.$ Given this information, what would be the share price for this firm? Round your answer to two decimals and enter your answer in the box below.

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Correct Answer

$60\mathrm{.}4$ margin of error $\frac{+}{-}0\mathrm{.}5$