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You are considering buying a stock of Google. Google has just issued a dividend of $X. You want to have a rate of return of
You are considering buying a stock of Google. Google has just issued a dividend of $X. You want to have a rate of return of 7.7% on your investment on Google, so you are willing to pay at most $143 for a stock of Google. You believe that Google will grow at a constant rate of 9.7% for the next 3 years and 4.8% after that indefinitely. What is the value of X? Round your answer in at least 2 decimal places
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