What should be the market price of moriband stock

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Reference no: EM131313209

Morlband Corp. paid a dividend of $2.32 yesterday. The company's dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If Investors In stocks of companies like Moriband require a rate of return of 23.0 percent, what should be the market price of Moriband stock? (Round dividend to 3 decimal places, e.g. 3.756 and round final answer to 2 decimal places, e.g. 15.20.)

Reference no: EM131313209

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