how-much-will-you-pay-for-the-company-s-stock-today-business-and-finance-homework-help
Mickelson Corporation will pay a dividend of $3.14 per share next year. The company pledges to increase its dividend by 5 percent per year indefinitely. If you require a return of 12 percent on your investment, how much will you pay for the company’s stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Stock price | $ |