What is the current value of one share of stock

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Reference no: EM131963183

The Bell Weather Co. is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 19% a year for the next three years and then decreasing the growth rate to 5% per year. The company just paid its annual dividend in the amount of $2.2 per share. What is the current value of one share of this stock if the required rate of return is 9.57%? (Round answer to 2 decimal places. Do not round intermediate calculations).

Reference no: EM131963183

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