Tortoise Company is expecting constant 3% growth over the foreseeable future. The rate expected in the marketplace for investments similar to Tortoise is 4.5%. Tortoise just paid a dividend of $2.80 per share.
What is the current value of one share of Tortoise Company? _______________
What will be the value of a share in year 3? ______________
What will be the value of a share in year 6? ______________