Joidtke Manufacturing's stock currently sells for $24 a share. The stock just paid a dividend of $3.00 a share (l.e., Do = $3.00 ), and the dividend is expected to row forever at a constant rate of 3% a year. What stock price is expected 1 year from now? Do not round intermediate calculations. Round your answer to the earest cent. ________
What is the estimated required rate of retum on Woidtke's stock? Do not round intermediate calculations. Round the answer to two decimat places. (Assume the narket is in equilibrium with the required return equal to the expected return.)
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