Talcville Farms just paid a dividend of $3.26 on its stock. The growth rate in dividends...

Talcville Farms just paid a dividend of $3.26 on its stock. The growth rate in dividends is expected to be a constant 5.3% per year indefinitely. Investors require a 15.3% return on the stock for the first three years, a 13.3% return for the next three years, and an 11.3% return thereafter. What is the current share price?

Expert Solution

current share price = $49.61

jeff jeffy answered 1 year ago

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