Calculate the current share price

Reference no: EM1358646

Ferson, Corporation just paid a dividend of $3.00 on its stock. The growth rate in dividends is expected to be a constant 5% per year indefinitely. Investors require a 16% return on the stock for the 1st three years, a 14 percent return for the next three years, and then an 11 percent return thereafter. What is the current share price for Ferson stock?

Reference no: EM1358646

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