River rock inc just paid an annual dividend of 280 the, Financial Management

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River rock inc just paid an annual dividend of 280 the

River Rock, Inc. just paid an annual dividend of $2.80. The company has increased its dividend by 2.5 percent a year for the past 10 years and expects to continue doing so. What will a share of this stock be worth 6 years from now if the required return is 16 percent?

$23.60

$24.65

$25.08

$25.50

$26.90

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Financial Management: River rock inc just paid an annual dividend of 280 the

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Financial Management: River rock inc just paid an annual dividend of 280 the

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