The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.52 per share on its stock. The dividends are expected to grow at a constant rate of 7 percent per year indefinitely. Required:

a. If investors require a 11 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price?
b. What will the price be in 8 years?

A. $40.66

B. $69.86

Explanation:

A. Calculation for what is the current price

Using this formula

Current price=Dividend per share(1+Expected constant rate)/ (Require return percentage-Expected constant rate)

Let plug in the formula

Current price=1.52(1+.07) / (.11-.07)

Current price=1.52(1.07) / (.11-.07)

Current price=1.6264/0.04

Current price=$40.66

Therefore the Current price will be $40.66

b. Calculation for What will the price be in 8 years

Using this formula

Price=Dividend per share(1+Expected constant rate)^Numbes of years/ (Require return percentage-Expected constant rate)

Price=1.52(1+.07)^9/ (.11-.07)

Price=1.52(1.07)^9/ (.11-.07)

Price=2.7945/0.04

Price=$69.86

Therefore What will the price be in 8 years is $69.86

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white lines separate lanes of traffic traveling the same direction.

hashed or broken lines means you may change lanes when it is safe.

solid white lines mean stay in your lane.

yellow lines separate traffic moving in opposing directions.

hashed or broken yellow lines mean you can carefully pass, paying attention to oncoming traffic.

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