(Answered) Abc enterprises stocknbspis expected to pay a dividend

Finance

ABC Enterprises' stock is expected to pay a dividend of $2.2 per share. The dividend is projected to increase at a constant rate of 4.6% per year. The required rate of return on the stock is 17.1%. What is the stock's expected price 3 years from today (i.e. solve for P3)?

Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.

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