Universal Laser, Inc., just paid a dividend of $2.73 on its stock. The growth rate in dividends

Question:

Universal Laser, Inc., just paid a dividend of $2.73 on its stock. The growth rate in dividends is expected to be a constant 4 percent per year indefinitely. Investors require a return of 15 percent on the stock for the first three years, a return of 13 percent for the next three years, and then a return of 10 percent thereafter. What is the current share price for the stock?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...