Question: show step by step please A stock will pay no dividends for the next 5 years. Six years from now, the stock is expected to
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 $2.2. It is expected to pay a dividend of $3.6 exactly seven years from now. The dividend is expected to grow at a rate of 7% 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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