Question: Help please! Staton - Smith Software is a new start - up company and will not pay dividends for the first five years of operation.

Help please!
Staton-Smith Software is a new start-up company and will not pay dividends for the first five years of operation. It will then institute an annual cash dividend policy of $3.25 with a constant growth
rate of 6%, with the first dividend at the end of year six. The company will be in business for 25 years total. What is the stock's price if an investor wants
a. a return of 11%?
b. a return of 15%?
c. a return of 24%?
d. a return of 35%?
(Round to the nearest cent.)
 Help please! Staton-Smith Software is a new start-up company and will

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