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What is the stock price

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Steady As She Goes, Inc., will pay a year-end dividend of $2.9 per share. Investors expect the dividend to grow at a rate of 5.9 percent indefinitely.

a. If the stock currently sells for $35 per share, what is the expected rate of return on the stock? (Round your answer to 2 decimal places.)

The expected rate of return on the stock %

b. If the expected rate of return on the stock is 15.4 percent, what is the stock price? (Round your answer to the nearest cent.)

The stock price $

Reference no: EM133056180

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