Homework:Chapter 7 Homework Question 12, 7.4-19 HW Score: 82.05%, 10.67 of 13 points Points: 0 of 1 Spacefood Products will pay a dividend of per share this year. It is expected that this dividend will grow by % per year each year in the future. What will be the current value of a single share of Spacefood's stock if the firm's equity cost of capital is %?

Storico co. just paid a dividend of $3.15 per share. the company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. if the required return on the company’s stock is 12 percent, what will a share of stock sell for today?