Homework Help: Finance

Posted by Erika on Friday, July 30, 2010 at 5:28pm.

Bread, Inc., has an odd dividend policy. The company has just paid a dividend of $6 per share and has announced that it will increase the dividend by $4 per share for each of the next five years, and then never pay another dividend. If you require an 11 percent return on the company's stock, you will pay $ for a share today. (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16))

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