Problems level III Question 19 (Estimated time allowance: 8 minutes) A start-up company named GoG Inc. has not paid a dividend since inception and is not planning to pay dividends for the next 11 years. At the following year, GoGo will start paying an annual dividend of $38 per share and thereafter it will increas the dividends by 5% per year forever. If the required rate of return on th stock is 15%, what is the price of this stock today? Click here to access the TVM simulated excel file that you can use to get TMV factors. Do not use the $ sign. DO NOT USE commas to separate thousands. Use 2 decimals round to the nearest cent. For example if you obtain $1,432.728 then enter 1432.72; you obtain $432 then enter 432.00 Answer: 649.93 x (81.68) Question 21