PLEASE PUT EXCEL FORMULAS IN WHEN CALCULATING YOUR ANSWERS FOR EACH YELLOW BOX:

Maloney, Inc., has an odd dividend policy. The company has just paid a dividend of $3.50 per share and has announced that it will increase the dividend by $4.50 per share for each of the next five years, and then never pay another dividend. If you require a return of 11 percent on the company's stock, how much will you pay for a share today? Current dividend $ Dividend growth rate $ Required return 3.50 4.50 11% Complete the following analysis. Do not hard code values in your calculations. Year Dividend Share price ... Sheet1 ... + READY | #H [U] | - -+ 100% Attempt(s) 3/3 Hint Step: The dividend in any year can be found by adding the dollar dividend growth to the previous year's dividend