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What is the current price

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Fowler, Inc., just paid a dividend of $3.30 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 a return of 9 percent on this stock.

a. What is the current price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b. What will the price be in six years and in thirteen years? (Do not round intermediate calculations and round your answers to 2 decimal pl

Reference no: EM132531419

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