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Score: 0 of 1 pt 5 of 7 (3 complete) HW Score: 42.86%, 3 of 7 pts Problem 8.LO3.29 (similar to) E Question Help Hayworth
Score: 0 of 1 pt 5 of 7 (3 complete) HW Score: 42.86%, 3 of 7 pts Problem 8.LO3.29 (similar to) E Question Help Hayworth Industries does not currently pay dividends. However, investors expect that, in 4 years, Hayworth will pay its first dividend of $1.98 per share and will continue to grow at 12% per year forever. If investors require a 14% annual return on the stock, what is the current price? The current price of the stock is (Round to the nearest cent.)
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