The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.95 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. If investors require a return of 10.5 percent on the stock, what is the current price? What will the price be in three years? In 15 years? Calculating stock price Excel X Sign In REVIEW FILE HOME INSERT PAGE LAYOUT FORMULAS DATA VIEW A A Arial 12 Conditional Format as Paste Cell Editing Alignment Number Cells B IU T Formatting Table Styles Clipboard Font Styles D20 A C E F G H J 5 Current dividend 1.95 6 Dividend growth rate Required return 4% 7 10.5% 8 Price in Year 0 Price in Year 3 10 Price in Year 15 11 12 13 14 Complete the following analysis. Do not hard code values in your calculations. 15 Dividend in one year $ $ 2.03 16 Price today 31.20 17 18 Dividend in 4 years Price in 3 years 19 20 21 Dividend in 16 years Price in 15 years 22 23 24 25 26 27 Sheet1 READY 100% Attempt(s) 9/9 4