What are the gross sales? Income Statement
For the Year Ended May 31, 2043
Revenues
Merchandise Sales
$400.00
Sports Training Income
2,800.00
Total Revenues:
3,200.00
Expenses
Salaries
Supplies Expense
Total Expenses:
2,600.00
550.00
3,150.00

Storico co. just paid a dividend of $3.15 per share. the company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. if the required return on the company’s stock is 12 percent, what will a share of stock sell for today?