Pfender Guitars has a current annual cash dividend policy of $7.00. The price of the stock is set to yield a return of 8?%. What is the price of this stock today if the dividend will be paid for 11 years? (constant dividend) and the stock is sold in year 14 for ?$25? The investment will pay an annual cash dividend of ?$7.00 for 11 years then receive ?$25 from selling the stock at the end of year 14. The price of the stock is set to yield a return of 8?%.