Consider a firm that had been priced using a 9 percent growth rate and an 11 percent required return. The firm recently paid a $1.30 dividend. The firm just announced that because of a new joint venture, it will likely grow at a 9.5 percent rate.
How much should the stock price change (in dollars and percentage)? (Round your answers to 2 decimal places.)
Change in stock price $
Change in stock percent %