Question: Input area: Dividend paid Dividend growth rate Initial required return t Second required return Final required return Initial # of years Second # of

Input area: Dividend paid Dividend growth rate Initial required return t Second

Input area: Dividend paid Dividend growth rate Initial required return t Second required return Final required return Initial # of years Second # of years Bench Inc just paid a dividend of $2.50 on its stock. The growth rate id dividends is expected to be a constant 4.5% Indefinitely. Investors require a return of 12% on the stock for the first three years, a return of 10% for the next three years, and then a return of 8% thereafter. What is the current share price for the stock? (20 pts) Output area Present value at beginning of final period Present value at beginning of second period Present value at beginning of initial period (share price)

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