Thirsty cactus corp just paid a dividend of 155 per share, Financial Management

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Thirsty cactus corp just paid a dividend of 155 per share

Thirsty Cactus Corp. just paid a dividend of $1.55 per share. The dividends are expected to grow at 35 percent for the next 7 years and then level off to a 6 percent growth rate indefinitely.

Required :

If the required return is 13 percent, what is the price of the stock today?

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Financial Management: Thirsty cactus corp just paid a dividend of 155 per share

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Financial Management: Thirsty cactus corp just paid a dividend of 155 per share

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