Question: Use excel to answer the question, please. 9. GP Farms just paid a dividend of $3.20 on its stock. The growth rate in dividends is

 Use excel to answer the question, please. 9. GP Farms just

Use excel to answer the question, please.

9. GP Farms just paid a dividend of $3.20 on its stock. The growth rate in dividends is expected to be a constant 5 percent per year indefinitely. Investors require a return of 15 percent for the first three years, a return of 13 percent for the next three years, and a return of 11 percent thereafter. What is the current share price? (HINT: There are three components to the price: two growing annuities and a growing perpetuity)

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