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Hayley Company just paid a dividend of $2 today, and is expected to pay a...

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Finance

Hayley Company just paid a dividend of $2 today, and is expected to pay a dividend in year 1 of $2.8, a dividend in year 2 of $3, a dividend in year 3 of $3.8, a dividend in year 4 of $3.1, and a dividend in year 5 of $4.9. After year 5, dividends are expected to grow at the rate of 0.07 per year. An appropriate required return for the stock is 0.1. Using the different-stage growth model, the stock should be worth __________ today.

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