The common stock for BearKat Enterprises (BKE) currently sells for $24.27. The company just paid a...
The common stock for BearKat Enterprises (BKE) currently sells for $24.27. The company just paid a dividend of $1.25 on their common stock, and the dividend is expected to grow 3% each year indefinitely%.
Based on this information, what is the expected price of BKE's common stock in 6 years?
Enter your answer as a number with 2 decimal places of precision. Do not enter your answer with a dollar sign or commas.
Homework Answers
Expected price=Current price*(1+Growth rate)^6
=$24.27*(1.03)^6
which is equal to
=28.98(Approx).
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