Johnson Enterprises intends to make a dividend payment of $3.25 per share next year. After this dividend payment, the firm is commited to raise its dividend by 5.1 percent per year, forever. Assuming you require a return of 15 percent on this investment, how much would you be willing to pay for this stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
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Home » Business » Johnson Enterprises intends to make a dividend payment of $3.25 per share next year. After this dividend payment, the firm is commited to raise its dividend by 5.1 percent per year, forever.