Patience inc just paid a dividend of 235 per share on its

Reference no: EM13618750

Patience, Inc., just paid a dividend of $2.35 per share on its stock. The dividends are expected to grow at a constant rate of 4.5 percent per year, indefinitely. Assume investors require an 11 percent return on this stock.

What is the current price?
What will the price be in three years and in fifteen years?

Reference no: EM13618750

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