FIN – Taylor Corp. Problem

| August 14, 2017

Taylor Corp. is growing quickly. Dividends are expected to grow at a 29 percent rate for the next three years, with the growth rate falling off to a constant 6.3 percent thereafter.Required:If the required return is 15 percent and the company just paid a $2.90 dividend, what is the current share price? (Hint: Calculate the first four dividends.) (Do not include the dollar sign ($). Round your answer to 2 decimal places (e.g., 32.16).)Current share price $___________________________

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