Anton, Inc., just paid a dividend of $2.85 per share on its stock. The dividends are expected to grow at a constant rate of 4.5 percent per year, indefinitely. Assume investors require a return of 10 percent on this stock.
Requirement 1:
What is the current price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Requirement 2:
What will the price be in five years and in fourteen years?