Combined Communications is new firm in rapidly growing industry. Company is scheduling on increasing its annual dividend by 22 percent year for next 4 years and then reducing growth rate to 6 percent per year. Company just paid its annual dividend in amount of $1.30 per share. Determine the present value of one share of this stock if required rate of return is 9.00 percent?
$79.03
$64.84
$72.62
$69.10
$78.72