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JustKidding Corporation has an odd dividend policy. The company has just paid a dividend of $7...

JustKidding Corporation has an odd dividend policy. The company has just paid a dividend of $7 per share and has announced that it will increase the dividend by $6 per share for each of the next five years, and then never pay another dividend. If you require a return of 14 percent on the company’s stock, how much will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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Do= Di = 7+6=13 D2= 13+6= 19 D3 = 19 +6= 25 Dy = 25+ 6=31 D5 = 31 + 6 = 37 Share price today 3 ) 1.14 11.40 + 14.62 +16.87 +

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