Question: Answer format: Currency: Round to: 2 decimal places. Please show your work A stock just paid a dividend of $2.42. The dividend is expected to

Answer format: Currency: Round to: 2 decimal places. Please show your

Answer format: Currency: Round to: 2 decimal places.

Please show your work

A stock just paid a dividend of $2.42. The dividend is expected to grow at 26.86% for five years and then grow at 3.57% thereafter. The required return on the stock is 14.17%. What is the value of the stock? Submit Answer format: Currency: Round to: 2 decimal places

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