Computing future value of given stock

Reference no: EM1327844

A company has announced the growth rate of its dividend going forward will be 2% annually forever. The dividend in year 4 will be $3.00. The discount rate on the stock is 10%. What will the stock price be in year 18?

51.48
50.47
55.43
22.45
65.97
66.99

Reference no: EM1327844

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