Bittles inc just paid an annual dividend of 250 a share the, Financial Management

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Bittles inc just paid an annual dividend of 250 a share the

Bittles, Inc. just paid an annual dividend of $2.50 a share. The dividend will increase by 40 percent for the next two years and then increase by 4 percent annually thereafter. What is the present value of this stock at a discount rate of 6 percent?

1. $268.30

2. $234.43

3. $263.20

4. $13.50

5. $254.80

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Financial Management: Bittles inc just paid an annual dividend of 250 a share the

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Financial Management: Bittles inc just paid an annual dividend of 250 a share the

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