The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.85 per share on its stock.
The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. Investors require a return of 12 percent on the company's stock.
What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current price $
What will the stock price be in three years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price $
What will the stock price be in 14 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price $