Question: COMPLETE THE PROBLEM ON EXCEL AND SHOW STEP BY STEP TO RECEIVE ALL CREDIT! 1. An investor holds the stock of Last-But-Not-Least Financials and expects

COMPLETE THE PROBLEM ON EXCEL AND SHOW STEP BY STEP TO RECEIVE ALL CREDIT!

1. An investor holds the stock of Last-But-Not-Least Financials and expects to receive a dividend of $4.75 per share at the end of the year. Stock analysts recently predicted that the bank's dividends will grow at approximately 3 percent a year indefinitely into the future. If this is true, and if the appropriate risk-adjusted cost of capital (discount rate) for the bank is 14 percent, what should be the current price per share of Last-But-Not-Least Financials' stock

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