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Covid Corp's stock is selling for $215.61 in today's market. Its dividend has been growing...

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Finance

Covid Corp's stock is selling for $215.61 in today's market. Its dividend has been growing at 2.5% per year since the company first issued a dividend 12 years ago and is expected to continue growing at this rate forever. Investors have required a 6.20% return on this stock since it was founded and it is expected that this required rate of return will continue into the future. If Covid Corp's first dividend was $7.50, was is the best estimate of the market price of the stock 11 years from today?

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