Question: Hello! I'm having trouble with this practice question. Any help is greatly appreciated. CX Enterprises has the following expected dividends: $1.06 in one year $1.23

Hello! I'm having trouble with this practice question. Any help is greatly appreciated.

Hello! I'm having trouble with this practice question. Any help is greatly

CX Enterprises has the following expected dividends: $1.06 in one year $1.23 in two years, and $1.31 in three years. After that, its dividends are expected to grow at 4% per year forever (so that year 4's dividend will be 4% more than $1.31 and so on). If CX's equity cost of capital is 12.3%, what is the current price of its stock? The price of the stock will be s (Round to the nearest cent.)

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