Question: The answer is also not 24.97 Current Attempt in Progress Management of Wildhorse, a biotech firm, forecasted the following growth rates for the next three

The answer is also not 24.97 Current Attempt in Progress Management The answer is also not 24.97

Current Attempt in Progress Management of Wildhorse, a biotech firm, forecasted the following growth rates for the next three years: 35 percent, 28 percent, and 22 percent. Management then expects the company to grow at a constant rate of 9 percent forever. The company paid a dividend of $1.30 last week. If the required rate of return is 18 percent, what is the value of this stock? (Round intermediate calculations and final answer to 2 decimal places, eg. 15.20.) Value of stock $

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