Current Share Price Assignment | Homework For You
June 2nd, 2020
Question 3 (2 points) Pine Grove, Inc., is a thriving young company and it expects no dividends over the next 3 years because the company needs to reinvest its earnings to fund its various projects. The company will pay a $6.1 per share dividend in 4 years and will increase the dividend by 7 percent per year thereafter. If the required return on this stock is 11.0 percent, the current share price should be $ . (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16))Get Finance homework help today