You are evaluating a stock that is expected to experience supernormal growth in dividends of 18% over the next two years. Following this period, dividends are expected to grow at a constant rate of 3%. The stock paid a dividend of $3 last year and the required return on the stock is 14%. What is the fair present value of this stock?

estion 11 You are evaluating a stock that is expected to experience supernormal growth individends of over the next two years on this periodista constant rate of 3%. The stock paid a dividend of 53 last year and the required return on the stock is What is the present of