The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.95 per share on its stock. The dividends are?
expected to grow at a constant rate of 6 percent per year indefinitely. If investors require an 11 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price? The price in 3 years? 15 years?
Thanks!


