FINANCE-Grant, Inc. is a fast growing company and its dividend is expected

FINANCE-Grant, Inc. is a fast growing company and its dividend is expected

FINANCE-Grant, Inc. is a fast growing company and its dividend is expected

Grant, Inc. is a fast growing company and its dividend is expected to grow at a rate of 10 percent for the next two years. It will then settle to a constant growth rate of 5 percent. If the last dividend was $6.20 and the required rate of return is 15 percent, what is the current price of the stock?

 

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