Question 5: Assuming at 3.5% expected growth rate, use the dividend discount model with constant growth to find the expected price of the stock at each level of borrowing. This model is: Stock Price = Dividend /(WACC - growth)

WACC Price

$50,000,000 6.62% $23.94

$100,000,000 6.54% $24.39

$150,000,000 6.47% $24.84

$200,000,000 6.40% $25.30

$250,000,000 6.32% $25.76

This is my set up of the model: $50,000,000/(6.62%-3.5% and I don't get the price.