What will the price be in three years and in fifteen years

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Reference no: EM131495280

Gilmore, Inc., just paid a dividend of $2.95 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year, indefinitely. Assume investors require a return of 11 percent on this stock.

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

Current price $

What will the price be in three years and in fifteen years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Price

Three years $

Fifteen years $

Reference no: EM131495280

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