Biogenetics Inc plans to retain and reinvest all of their earnings for the next 30 years. Investors believe that at the end of year 31 the firm will pay a dividend of $12 per share. The dividend will increase at a 6% rate annually thereafter. Given a return of 15%, what is the selling price of the stock?© BrainMass Inc. brainmass.com August 19, 2018, 3:17 am ad1c9bdddf
Given a return of 15%, what is the selling price of the stock?