Gilmore, inc., just paid a dividend of $3.30 per share on its stock. the dividends are expected to grow at a constant rate of 4.5 percent per year, indefinitely. assume investors require a return of 9 percent on this stock. what is the current price? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) current price $ what will the price be in six years and in thirteen years? (do not round intermediate calculations and round your answers to 2 decimal places, e. g., 32.16.) price six years $ thirteen years $

(i) $76.63(Approx)

(ii) $99.80 (Approx) ; $135.81 (Approx)

Explanation:

Current price = Dividend for next period ÷ (Required return - Growth rate)

                      = (3.3 × 1.045) ÷ (0.09 - 0.045)

                     = $76.63(Approx)

Price in 6 years:

      = $99.80 (Approx)

Price in 13 years:

      = $135.81 (Approx)

odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.

fractionally backed paper money

fiat money

paper money

metallic money