Kelly enterprises' stock currently sells for $35.25 per share. the dividend is projected to increase at a constant rate of 4.75% per year. the required rate of return on the stock, rs, is 11.50%. what is the stock's expected price 5 years from now? a. $40.17b. $41.20c. $42.26d. $43.34e. $44.46

The answer is option e. $44.46

Explanation:

The stock's  expected price after 5 years can be expressed as;

FV=CV(1+RRR)^n

where;

FV=future value of stock/expected price after 5 years

CV=current price of stock

DGR=dividend growth rate

n=number of years

In our case;

FV=unknown

CV=$35.25 per share

DGW=4.75%=4.75/100=0.0475

n=5 years

replacing;

FV=35.25(1+0.0475)^5

FV=35.25(1.0475)^5

FV=44.46

explanation:

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