Business, 02.11.2020 16:50 Arielledt10

Pine Grove, Inc., is a thriving young company and it expects no dividends over the next 3 years because the company needs to reinvest its earnings to fund its various projects. The company will pay a $3.4 per share dividend in 4 years and will increase the dividend by 8 percent per year thereafter. If the required return on this stock is 13.3 percent, the current share price should be $. (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e. g., 32.16))

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Pine Grove, Inc., is a thriving young company and it expects no dividends over the next 3 years beca...

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