Patience inc just paid a dividend of 315 per share on its


Patience, Inc., just paid a dividend of $3.15 per share on its stock. The dividends are expected to grow at a constant rate of 6.00 percent per year, indefinitely. Assume investors require an 11 percent return on this stock.

Requirement 1:
What is the current price? (Do not include the dollar sign ($).

Requirement 2:
What will the price be in three years and in fifteen years?

 

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Finance Basics: Patience inc just paid a dividend of 315 per share on its
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