Sunset Corporation will pay a dividend of $4.04 per share next year. The company pledges to increase its dividend by 5%

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answerhappygod
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Sunset Corporation will pay a dividend of $4.04 per share next year. The company pledges to increase its dividend by 5%

Post by answerhappygod »

Sunset Corporation will pay a dividend of $4.04 per share next
year. The company pledges to increase its dividend by 5% per year,
indefinitely. If you require a return of 8% on your investment, how
much will you pay for the company’s stock today? Round your answer
to two decimal places
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