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Nonconstant growth stock 21 Mack Industeies s just paid a dividend of $1.00 per shareo$1.00) expeet the company's dividend to grow 20s this year 1D and 15 n constant rate of 12, what should be the a. $12.33 b. $16.65 . $16.91 d. $18.67 e $19.67 hext year. After two years the dividend is expected to grow at 5%. The required rate of return on the company's stoc company's current stock price? Nonconstant growth stock 22 Namath Corporation's Answer: d Corporation's stock is expected to pay a dividend of $1.2s at the following two years, and then at a constant rate of 8% per year, thereafter. the year. The dividend is expected to grow by 20s for each of the he stock has a required return of 10%. What should be the price of the stock today? a. $50.00 b. $59.38 c. $70.11 d. $76.76 e584-43 Answer: b Nonconstant growth stock A stock is expected to pay a dividend of $1.00 at the end of the year (s.e.. D; $1.00), which is expected to grow 25% in each of the following two years and at a constant rate of 6t, thereafter. If the stock's required return is 11, what is the stock's price today? a. $26.14 b. $27.28 C. $30.48 d. $32.71 e$35-38 23. Answer: Nonconstant growth stock 24. Garcia Inc. has a current dividend of $3.00 per share (Do$3.00). Analysts expect the dividend to grow at a rate of 25% for the next three years, and at a constant rate of 10, thereafter. The company's cost of equity is estimated to be 15%. What is Garcia's current stock price? a. 75.00 b. s 88.55 c. $ 95.42 d. $103.25 e. $110.00 Answer: a Nonconstant growth stock Chapter 9: Stocks and Their Valuation Page 494