(Answered) Jade inc announced today that it will begin paying annual

Finance

Jade Inc. announced today that it will begin paying annual dividends. The first dividend will be paid next year in the amount of $0.25 per share. The following dividends will be $0.42, $0.59, and $0.78 per share annually for the following three years, respectively. After that, dividends are projected to increase by 3.9% per year.

How much are you willing to pay to buy one share of this stock if your desired rate of return is 7%? (Round answer to 2 decimal places, round intermediate calculations to 5 decimal places)

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