Business, 07.06.2020 00:04 lilyrockstarmag

Moody Farms just paid a dividend of $3.05 on its stock. The growth rate in dividends is expected to be a constant 5 percent per year indefinitely. Investors require a return of 12 percent for the first three years, a return of 10 percent for the next three years, and a return of 8 percent thereafter. What is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

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Moody Farms just paid a dividend of $3.05 on its stock. The growth rate in dividends is expected to...