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Sea Side, Incorporated, just paid a dividend of $2.20 per share on its stock. The growth rate in dividends is expected to be a constant
Sea Side, Incorporated, just paid a dividend of $2.20 per share on its stock. The growth rate in dividends is expected to be a constant 4.30 percent per year indefinitely. Investors require a return of 19.00 percent on the stock for the first three years, then a return of 14 percent for the next three years, and then a return of 12 percent thereafter. What is the current share price? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. * Answer is complete but not entirely correct
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