Question: need help... can you work it out in excel and please show work? Phoenix Industries has pulled off a miraculous recovery. Four years ago it

need help... can you work it out in excel and please show work?
need help... can you work it out in excel and please show

Phoenix Industries has pulled off a miraculous recovery. Four years ago it was near bankruptcy. Today, it announced a $2 per share dividend to be paid a year from now, the first dividend since the crisis. Analysts expect dividends to increase by $1 a year for another 2 years. After the third year (in which dividends are $4 per share), dividend growth is expected to settle down to a more moderate longterm growth rate of 6%. If the firm's investors expect to earn a return of 16% on this stock, what must be its price? Note: Do not round intermediate calculations. Round your answer to 2 decimal places

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