Kenzie Cos. is expected to pay a dividend of $3.55 per year indefinitely. The appropriate rate of return on this stock is 14 percent per year, and the stock consistently goes ex-dividend 35 days before dividend payment date.
What will be the expected minimum price in light of the dividend payment logistics? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
What will be the expected maximum price in light of the dividend payment logistics? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)