Burkhardt Corp. pays a constant $13.60 dividend on its stock. The company will maintain this dividend for the next 9 years and will then cease paying dividends forever. If the required return on this stock is 12 percent, what is the current share price?

current share price = $72.464197

Explanation:

given data

dividend = $13.60

time = 9 year

required return = 12 percent

solution

we get here current share price that is express as

current share price = dividend ×    ..................1

put here value and we get current share price

current share price = $13.60 ×  

current share price = $72.464197

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