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A stock is expected to pay a dividend of $1.1 one year from now, $1.9 two years from now, and $2.5 three years from now. The growth rate in dividends after that point is expected to be 9% annually. The required return on the stock is 14%. The estimated price per share of the stock six years from now should be $_________. Do not round any intermediate work, but round your final answer to 2 decimal places (ex: $12.34567 should be entered as 12.35).

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92325807

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