Question: Reddick Enterprises' stock currently sells for $ 2 4 . 5 0 per share. The dividend is projected to increase at a constant rate of

Reddick Enterprises' stock currently sells for $24.50 per share. The dividend is projected to increase at a constant rate of 5.50% per year. The required rate of return on the stock, rs, is 9.00%. What is the stock's expected price 3 years from today?
a. $26.71
b. $25.85
c. $31.73
d. $28.77
e. $27.16
 Reddick Enterprises' stock currently sells for $24.50 per share. The dividend

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