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Question 1 1 pts A stock will pay no dividends for the next 9 years....

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Question 1 1 pts A stock will pay no dividends for the next 9 years. Ten years from now, the stock is expected to pay its first dividend in the amount of $2.9. It is expected to pay a dividend of $3.2 exactly eleven years from now. The dividend is expected to grow at a rate of 7% per year forever after that point. The required return on the stock is 9%. The stock's estimated price per share exactly twelve years from now, P12,should be $_... Do not round any intermediate work, but round your final answer to 2 decimal places (ex: $12.34567 should be entered as 12.35). Margin of error for correct responses: +/- 10

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