Kenzie Cos. is expected to pay a dividend of $2.45 per year indefinitely. The appropriate rate of return on this stock is 15 percent per year, and the stock consistently goes ex-dividend 30 days before dividend payment date. What will be the expected minimum price in light of the dividend payment logistics? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
Minimum stock price $
What will be the expected maximum price in light of the dividend payment logistics? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
Maximum stock price $