Maurer, Inc., has announced an odd dividend policy as it winds down its operations. The...
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| Maurer, Inc., has announced an odd dividend policy as it winds down its operations. The company just paid an annual dividend of $2 per share and has announced that it will increase the dividend by $6 per share for each of the next five years, and then shut its doors and never pay another dividend. If you require a return of 12 percent on the companys stock, how much will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current share price= _____ |
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