Today, DuPont paid a dividend of $0.50. For the next 4 years, the company's dividend...
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Today, DuPont paid a dividend of $0.50. For the next 4 years, the company's dividend is expected to grow at 10% p.a. compound annually and then revert to a long-term growth rate of 4% p.a. forever after that. How much should an investor pay for a share of DuPont today if an appropriate rate of return is 12% p.a. compounded annually? Any intermediate steps should be rounded to 4 or more decimal places. Round your final answer in dollars to 2 decimal places and exclude the dollar sign ($) or comma. For example, $10,784.6518 should be input as 10784.65
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