please help with both requirements, I am struggling. Problem 7-12 Stock Valuation...
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please help with both requirements, I am struggling.
Problem 7-12 Stock Valuation [LO 11 Alexander Corp. will pay a dividend of $3.20 next year. The company has stated that it will maintain a constant growth rate of 5 percent a year forever. Requirement 1: If you want a return of 17 percent, how much will you pay for the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Current stock price Requirement 2: If you want a return of 11 percent, how much will you pay for the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Current stock price $
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