Question: TP Inc. is a young start-up company. No dividends will be paid on the stock over the next 9 years, because the firm needs to

TP Inc. is a young start-up company. No dividends will be

TP Inc. is a young start-up company. No dividends will be paid on the stock over the next 9 years, because the firm needs to plow back its earnings to fuel growth. The company will then pay a $5 per share dividend at the end of year 10 and thereafter it will increase the dividends by 2% per year forever. If the required rate of return on this stock is 896, what is the current (today's) share price? Do not use the $sign. Use commas to separate thousands. DO NOT USE decimals. Round to the nearest DOLLAR. For example if you obtain $1,432.728 then enter 1,433 or if you obtain $1,120.1321 then enter 1,120 ab

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