Kizspy | Question: 9 (Choose 1 answer)
Interal, Inc., is expecting to pay out a dividend of $4 next year. After that it expects its dividend to grow at 7 percent for the next four years. What is the present value of dividends over the next five-year period if the required rate of return is 12 percent? (Do not round intermediate calculations. Round final answer to two decimal places.)
A. $10.76
B. $16.33
C. $11.50
D. $9.80
