Business, 15.04.2020 03:04 mng32

Gilmore, Inc., just paid a dividend of $3.15 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year, indefinitely. Assume investors require a return of 11 percent on this stock. What is the current price? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

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Gilmore, Inc., just paid a dividend of $3.15 per share on its stock. The dividends are expected to g...