What is the price of the stock today


Problem:

Thirsty Cactus Corp. just paid a dividend of $2.00 per share. The dividends are expected to grow at 23 percent for the next eight years and then level off to a growth rate of 6 percent indefinitely. If the required return is 12 percent,

Required:

Question: What is the price of the stock today?

Note: Explain all calculation and formulas.

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Finance Basics: What is the price of the stock today
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