Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Hershel Clothiers's stock currently sells for $29.00 a share. It just paid a dividend of $2.75 a share (i.e., D0 = $2.75). The dividend is expected to grow at a constant rate of 3% a year.
What stock price is expected 1 year from now? Round your answer to the nearest cent.
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