Wilbert's Clothing Stores just paid a $1.20 annual dividend and increases its dividend by 2.5 percent annually. You would like to purchase 100 shares of stock in this firm but realize that you will not have the funds to do so for another three years. If you desire a 10 percent rate of return, how much should you expect to pay for 100 shares when you can afford to buy this stock

$1766

Explanation:

Given the following ;

Present dividend (d) = $1. 20

Annual growth of dividend = 2.5%=0.025

Number of shares = 100

Intended period of purchase = 4

If present dividend(P0) = $1.20

After Year 1:

P1 = $1.20 + (0.025 × $1.20) = $1.23

After Year 2:

P2 = $1.23 + (0.025 x $1.23) = $1.26075

After Year 3:

P3 = $1.26075 + (0.025 × $1.26075) = $1.29226875

After Year 4:

P4 = $1.29226875 + (0.025 + $1.29226875) = $1.32457546875

Price of stock = P4 ÷ (0.1 - 0.025)

Price of stock = $1.32457546875 × 0.075 = $17.66

Stock price × number of shares

$17.66 × 100 =$1766

750 h and costs $0.60 per bulb.

the correct answer is - no.

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