Red Sun Rising just paid a dividend of $2.40 per share. The…
Red Sun Rising just paid a dividend of $2.40 per share. The company said that it will increase the dividend by 30 percent and 25 over the next two years, respectively. After that, the company is expected to increase its annual dividend at4.2 percent. If the required return is 11.4 percent, what is the stock price today?