will rate

24. Hendrix, Inc, whose required rate of return is 20%, has just paid (last night) a dividend of $3. The dividend is expected to increase to $3.4 (paid one year from today), to $4 (paid two years from today), and to $4.6 (paid three years from today). At the end of year three (just after the dividend is paid), the stock's price will be $23. Today's value of Hendrix stock is a. $35.00 b. $30.40 c. $24.58 d. $21.58 e. $19.36 25. Pertamina Corp.'s required rate of return is 14%. The company has just paid (yesterday) a dividend of $2.2. The dividend is expected to grow at 4% per year in perpetuity. Calculate the value of Pertamina's common stock today. a. $24.88 b. $22.88 c. $22.00 d. $16.34 e. $12.71