The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.80 per share on its stock. The dividends are expected to

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The Jackson Timberlake Wardrobe Co Just Paid A Dividend Of 1 80 Per Share On Its Stock The Dividends Are Expected To 1 (47.31 KiB) Viewed 37 times

The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.80 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year indefinitely. Investors require a return of 11 percent on the company's stock. a. What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the stock price be in 3 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What will the stock price be in 16 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Current price b. Stock price in 3 years C. Stock price in 16 years