Question: Q8 PLEASE ANSWER CORRECTLY AND PROMPTLY!! PLEASE SHOW ALL WORK!! CX Enterprises has the following expected dividends: $1.04 in one year, $1.23 in two years,

Q8 PLEASE ANSWER CORRECTLY AND PROMPTLY!! PLEASE SHOW ALL WORK!!

Q8 PLEASE ANSWER CORRECTLY AND PROMPTLY!! PLEASE SHOW ALL WORK!! CX Enterprises

CX Enterprises has the following expected dividends: $1.04 in one year, $1.23 in two years, and $1.32 in three years. After that, its dividends are expected to grow at 4% per year forever (so that year 4 's dividend will be 4% more than $1.32 and so on). If CX's equity cost of capital is 11.6%, what is the current price of its stock? The price of the stock will be (Round to the nearest cent.)

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