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QUESTION 11 TPG just paid an annual dividend of $1.50 yesterday. John intends to buy...

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QUESTION 11 TPG just paid an annual dividend of $1.50 yesterday. John intends to buy the stock shortly because he predicts that the dividend will grow at 5% per year over the next four years and the selling price of the stock will be $50 per share at the end of that time. If the required rate of return is 10%, the fair value of the stock should be a. $29.50. b. $39.50. C. $49.50. d. $59.50. e. None of the above

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