nevellbrown2 nevellbrown2

25-10-2022
Mathematics

Answered

Quantitative Problem 3: Assumé today is December 31, 2019, Imagine Works Inc. Just paid a dividend of $1.30 per share at the end of 2019. The dividend is
expected to grow at 15% per year for 3 years, after which time it is expected to grow at a constant rate of 5% annually. The company's cost of equity (r) is 9.5%.
Using the dividend growth model (allowing for nonconstant growth), what should be the price of the company's stock today (December 31, 2019)? Do not round
intermediate calculations. Round your answer to the nearest cent.
per share
$

Answer :

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