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Problem 8-32 Changes in Growth and Stock Valuation (LG8-5) Consider a firm that had been...

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Problem 8-32 Changes in Growth and Stock Valuation (LG8-5) Consider a firm that had been priced using an 11.5 percent growth rate and a 13.5 percent required return. The firm recently paid a $1.60 dividend. The firm has just announced that because of a new joint venture, it will likely grow at a 12.0 percent rate. How much should the stock price change in dollars and percentage)? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Change in stock price Change in stock percent

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