upcoming year, and dividends are expected to grow 5% per year in the future. Your required rate of annual return is 12%. Using the Constant Dividend Growth Model calculate the current price of the Common Stock.

Common Stock of California Corporation
will pay a dividend of $8.00 in the

upcoming year, and
dividends are expected to grow 5% per year in the future. Your required
rate of annual return is 12%. Using the Constant Dividend
Growth Model calculate the current price of the Common Stock.