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The RLX Company just paid a dividend of $1.10 per share on its stock. The dividends are expected to grow at a constant rate of
The RLX Company just paid a dividend of $1.10 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely. Investors require a return of 11 percent on the company's stock.
a. | What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. | What will the stock price be in 3 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
c. | What will the stock price be in 14 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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