What will the stock price be in 7 years

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The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.55 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year indefinitely. Investors require a return of 14 percent on the company's stock. 1.What is the current stock price? 2.What will the stock price be in three years? (Round your answer to 2 decimal places. 3. What will the stock price be in 7 years? (Round your answer to 2 decimal places.)

Reference no: EM13275589

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