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  3. you expect gdl to pay a dividend of $3 in one year

You expect GDL to pay a dividend of $3 in one year, $4 in two...

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Accounting

You expect GDL to pay a dividend of $3 in one year, $4 in two years and $6 in 3 years. After that, you think dividends will grow at a constant rate of 6%. You require a return of 12% to invest in GDL. How much would you pay for a share of the company today? Answer to 2 decimal places, for example 39.12.

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