Question: Problem 8-4 Stock Values [LO1 Hudson Corporation will pay a dividend of $2.94 per share next year. The company pledges to increase its dividend by

Problem 8-4 Stock Values [LO1 Hudson Corporation will pay a dividend

Problem 8-4 Stock Values [LO1 Hudson Corporation will pay a dividend of $2.94 per share next year. The company pledges to increase its dividend by 4.5 percent per year indefinitely. If you require a return of 12 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price

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