What should the stock price be worth after three


Saks is expected to pay a dividend in year 1 of $2.22, a dividend in year 2 of $2.54, and a dividend in year 3 of $3.11. After year 3, dividends are expected to grow at the rate of 8% per year. An appropriate required return for the stock is 11%.

What should the stock price be worth after three years? (DO NOT ROUND INTERMEDIATE CALCULATIONS. ROUND YOUR FINAL ANSWER TO 4 DECIMAL PLACES)

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Financial Management: What should the stock price be worth after three
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