QuestionXYZ Corporation's next dividend is expected to be $\$ 3$ per share. Dividend growth rate has been at $2 \%$ and expected to be so into the future. If investor's return is $10 \%$, calculate the stock price last year.
Multiple Choice $\$ 35.86$ $\$ 36.76$ $\$ 36.16$ $\$ 36.46$ 37.07

Studdy Solution
Solve for the stock price last year. Simplify the denominator:
$$P_0 = \frac{3}{0.08}$$
Calculate:
$$P_0 = 37.50$$
Since none of the multiple choice options match exactly, let's verify if there was any misunderstanding or rounding. However, based on the given data and calculations, the closest option is not listed.