Woidtke Manufacturing's stock currently sells for $38 a share. The stock just paid a dividend of $2.40 a share (i. e., D0 = $2.40), and the dividend is expected to grow forever at a constant rate of 10% a year. What stock price is expected 1 year from now? Do not round intermediate calculations. Round your answer to the nearest cent.
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Home » Business » Woidtke Manufacturing's stock currently sells for $38 a share. The stock just paid a dividend of $2.40 a share (i. e., D0 = $2.40), and the dividend is expected to grow forever at a constant rate of 10% a year.