ABC,. Inc just paid a dividend of $21.02. The dividends are expected to grow by 17% in Year 1, 19% in Year 2, and 9% in Year 3. After that, the dividends are expected to grow by 4% each year. If the required rate of return is 17%, what is today's price of the stock?

Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

Answer rating: 100% (QA)

Solution Dividend year12102117 245934 Dividend year2245934119 29266146 D... View the full answer