Cats Co. presently pays no dividend. You anticipate Cats Co. will pay an annual dividend...
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Accounting
Cats Co. presently pays no dividend. You anticipate Cats Co. will pay an annual dividend of $1.56 per share three years from today and you expect dividends to grow by 3% per year thereafter. If Cats Co.'s equity cost of capital is 12%, then the value of a share of Cats Co. today is:
Select one:
a. $17.33
b. $13.82
c. $12.34
d. $15.47
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