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Category > Business & Finance Posted 05 Aug 2017 My Price 7.00

Grant, Inc., is on a fast growth stock

Grant, Inc., is on a fast growth stock and expects to grow at a rate of 25 percent for the next four years. It then will settle to a constant-growth rate of 10 percent. The first dividend will be paid out in year 3 and will be equal to $5.00. If the required rate of return is 18 percent, what is the current price of the stock?

I know their is a second step in this, but I'm having trouble getting the right answer. I got $85.94 using 6.88/.18-.10.
If possible to solve on afinancialcalculator please name each: ex: N= 3, pv= 0, FV = 240 etc

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Status NEW Posted 05 Aug 2017 06:08 PM My Price 7.00

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