Answer:
current share price = $72.464197
Explanation:
given data
dividend = $13.60
time = 9 year
required return = 12 percent
solution
we get here current share price that is express as
current share price = dividend × [tex]\frac{1-(1+r)^{-t}}{r}[/tex] ..................1
put here value and we get current share price
current share price = $13.60 × [tex]\frac{1-(1+0.12)^{-9}}{0.12}[/tex]
current share price = $72.464197
