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What is the current stock price for riverbed

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Riverbed Clothiers Ltd.'s current dividend is $3.50. Dividends are expected to grow by 8 percent for years 1 to 3, 6 percent for years 4 to 7, and 2 percent thereafter. The required rate of return on the stock is 11 percent. What is the current stock price for Riverbed? (Round intermediate calculations to 4 decimal places, e.g. 45.1771 and final answer to 2 decimal places, e.g. 45.17.)

Reference no: EM133073441

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