Business, 21.04.2020 16:49, smiley29162

It announces that it plans to pay dividends of $1 per share exactly three years from now and $2 per share exactly four years from now. From year 5 onwards, dividends are expected to grow at a constant rate of 10% per year. The company pays no dividends in years one and two. The risk-free rate is 5%, the company's beta is 1.5 and the expected return on the market is 11%. Calculate the price of this stock at time period 4, P4

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It announces that it plans to pay dividends of $1 per share exactly three years from now and $2 per...