Question: Question 1 1 pts A stock will pay no dividends for the next 5 years. Six years from now, the stock is expected to pay

 Question 1 1 pts A stock will pay no dividends for

Question 1 1 pts A stock will pay no dividends for the next 5 years. Six years from now, the stock is expected to pay its first dividend in the amount of $2.7. It is expected to pay a dividend of $3.3 exactly seven years from now. The vidend is expected to grow at a rate of 6% per year forever after that point. The required return on the stock is 12%. The stock's estimated price per share exactly FIVE years from now, Ps, should be $ _ Do not round any intermediate work, but round your final answer to 2 decimal places (ex: $12.34567 should be entered as 12.35). Margin of error for correct responses: +/- 10

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