Question

River rock, inc. just paid an annual dividend of $2.80. the company has increased its dividend by 2.5 percent a year for the past ten years and expects to continue doing so. what will a share of this stock be worth six years from now if the required return is 16 percent?

Answer 1

The answer to this should be 24.65.
I could be wrong but I think you are suppose to add.

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