Experiencing rapid growth-projected dividend for coming year

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Reference no: EM131331068

Janicek Corp. is experiencing rapid growth. Dividends are expected to grow at 32 percent per year during the next three years, 22 percent over the following year, and then 7 percent per year indefinitely. The required return on this stock is 10 percent, and the stock currently sells for $78 per share. What is the projected dividend for the coming year? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Reference no: EM131331068

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