Finance-Common stock in Enck, Inc. is currently selling for a price of $32.50 per share

| January 31, 2017

Question
Common stock in Enck, Inc. is currently selling for a price of $32.50 per share. Enck just paid a $1.75 dividend and that dividend has been growing at a steady rate of 2.75% per year and is expected to grow at that same rate for the foreseeable future. As a shareholder in Enck, Inc., you intend to sell your stock ten years from today. What price per share do you anticipate receiving in ten years?
P0 $32.50 D0 $1.75 g 2.75% n 10
P5 $42.63 P0 * (1 + 3.25%)10

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