Question: Phoenix industries has pulled of a miraculous recovery. Four years ago was near bankruptcy. Today it announced a S3 per share dividend to be paid a year from now, the fest dividend since the crisis. Analysts expect dividends to increase by $1 a year another 2 year, Anther the third year (in which dividends are $5 per share) divided gown is expected to settle down to a more moderate long-term growth rate of 6% if the fern's investors expect to earn a return of 16% on this stock, what must price?