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If investors require a 12 percent return on courageous


1. Stock Values

Courageous, Inc. just paid a dividend of $1.80per share on its stock. The dividends are expected to grow at a constant rate of 3 percent per year, indefinitely. If investors require a 12 percent return on Courageous stock, what is the current price? What will the price be in 3 years? In 15 years? 

Current Price: $____________.

Price in Three Years: $____________.

Question 2 options:

Price in Fifteen Years: $____________.

Question 3 options:

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Finance Basics: If investors require a 12 percent return on courageous
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