Question: please show how to get answer i have the answer key just need to know how to get the right answer 14. A firm has
14. A firm has experienced a constant annual rate of dividend growth of 9 percent on its common stock and expects the dividend per share in the coming year to be $2.70. The required return on the firm's stock is 12 percent. The value of the firm's common stock is 15. Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its dividends will grow by 20 percent next year, 12 percent annually for the two years after that, and then at 6 percent annually thereafter. Based on this information, how much should Jia's fashions common stock sell for today if her required return is 10.5%
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