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Riverbed Clothiers Ltd.'s current dividend is $4.30. Dividends are expected to grow by 7 percent for years 1 to 3, 5 percent for years
Riverbed Clothiers Ltd.'s current dividend is $4.30. Dividends are expected to grow by 7 percent for years 1 to 3, 5 percent for years 4 to 7, and 1 percent thereafter. The required rate of return on the stock is 10 percent. What is the current stock price for Riverbed? (Round intermediate calculations to 4 decimal places, e.g. 45.1771 and final answer to 2 decimal places, e.g. 45.17.) Stock price
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