The economy has been in a recession,
The economy has been in a recession, but seems to be recovering. Ebeling
Inc.’s stock just paid a dividend of $2.6. The company’s dividend is expected to grow at a rate of -0.05 this year, 0.04, next year, and 0.07 for every year after that. If Ebeling has a required rate of return of 0.16, what is the current value of Ebeling’s the stock?