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The Stocking Corporation has just paid a $4 dividend on each share of its stock. The company managers announced to their investors of their plan
The Stocking Corporation has just paid a $4 dividend on each share of its stock. The company managers announced to their investors of their plan to continue growing which would allow the company to pay future dividends that will be increasing at a stable 3% annual rate. The required rate of return for this company is 10%. (Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 100.23. Do NOT use "$" in your answer.) (a) If you buy shares of such stock today, the fair market price per share will equal $ (b) If, after buying shares of such stock today, you then decide to sell them after 6 years, the fair market price per share at that time will equal $
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