Given the following information calculate the price of the stock. The first dividend of $2.50 is expected to be paid in 5 years time. Dividends are then expected to gow by 12% p.a. for the next 3 years. After this initial growth stage, it is assumed that dividends will grow by 4% p.a. into the foreseeable future. The required rate of return is 12% p.a.
Cannot be determined, insuffiecient information.