The Cricket Co. just paid a dividend of $1.55 per share on its stock. The dividends are expected to grow at a constant r

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The Cricket Co Just Paid A Dividend Of 1 55 Per Share On Its Stock The Dividends Are Expected To Grow At A Constant R 1 (43.71 KiB) Viewed 53 times

The Cricket Co. just paid a dividend of $1.55 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 14 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 7 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) 20.54 ces a. Current price b. Price in 3 years c. Price in 7 years