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  3. a stock is expected to pay a dividend of $1.2 one

A stock is expected to pay a dividend of $1.2 one year from now, $1.6...

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Accounting

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A stock is expected to pay a dividend of $1.2 one year from now, $1.6 two years from now, and $2.4 three years from now. The growth rate in dividends after that point is expected to be 7% annually. The required return on the stock is 13%. The estimated price per share of the stock six years from now should be $ Margin of error for correct responses: +/.10 Rounding and Formatting instructions: Do not enter dollar signs, percent signs, commas, X, or any words in your response. Do not round any intermediate work, but round your "final" response to 2 decimal places (example: if your answer is 12.3456,12.3456%, or $12.3456, you should enter 12.35 )

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