Anton, Inc., just paid a dividend of $3.20 per share on its stock. The dividends are expected to grow at a constant rate of 6.25 percent per year, indefinitely. Assume investors require a return of 12 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).)
Current price $
Requirement 2:
What will the price be in four years and in sixteen years? (Do not round intermediate calculations.Round your answers to 2 decimal places (e.g., 32.16).)
Four years $
Sixteen years $