Question: LBD is growing fast and for the next years does not intend to pay a dividend at all. Then , in year 3 , LBD

LBD is growing fast and for the next years does not intend to pay a dividend at all. Then , in year 3 , LBD plans on paying a 2.00 dividend , and follow it with a 3.00 dividend in year 4 . Therefore , dividends payout are expected to grow 5% annually . if investors demand a 14% rate of return on LBD stock, what would you expect to pay per share of LBD today.? (Hint:Calculate the price using dividend one period after g is constant)

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