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Sunland Corp. paid a dividend of $2.90 yesterday. The companys dividend is expected to grow at a steady rate of 5 percent for the foreseeable
Sunland Corp. paid a dividend of $2.90 yesterday. The companys dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies like Sunland require a rate of return of 19 percent, what should be the market price of Sunland stock? (Round dividend to 3 decimal places, e.g. 3.756 and round final answer to 2 decimal places, e.g. 15.25.)
Market price | $enter the market price of the stock rounded to 2 decimal places |
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