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7. Problem 9.11 Click here to read the eBook: Constant Growth Stocks VALUATION OF A...

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7. Problem 9.11 Click here to read the eBook: Constant Growth Stocks VALUATION OF A CONSTANT GROWTH STOCK A stock is expected to pay a dividend of $2.00 at the end of the year (i.e., D1 = $2.00), and it should continue to grow at a constant rate of 6% a year. If its required return is 15%, what is the stock's expected price 4 years from today? Round your answer to two decimal places. Do not round your intermediate calculations. GA + NON

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