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The RLX Company just paid a dividend of $3.10 per share on its stock. The dividends are expected to grow at a constant rate of
The RLX Company just paid a dividend of $3.10 per share on its stock. The dividends are expected to grow at a constant rate of 4.25 percent per year, indefinitely. Assume investors require a return of 9 percent on this stock. a. What is the current price? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. b. What will the price be in six years and in thirteen years? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16
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