Estimated price per share of the stock six years

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Reference no: EM132058982

A stock is expected to pay a dividend of $1 one year from now, $1.6 two years from now, and $2.2 three years from now. The growth rate in dividends after that point is expected to be 8% annually. The required return on the stock is 13%. 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).

Reference no: EM132058982

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