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Beach boards reports dividends per share of $1.40 and net income for the year of $150,000. dividend yield is 3.5%. what is beach boards' current stock price?

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W0lf93

Beach boards net income for the year, I = $150,000 
Dividends per share, D = $1.40
 Dividend yield, DY= 3.5%
 Beach boards’ current stock price is P
 We have the formula 
 Dividend yield = Dividends per share / Current stock price => DY = D / P
 Beach boards current stock price is P = D / DY => 1.4 / 3.5 % => P = 1.4 x
100 / 3.5
 Beach boards current stock price is P = 140 / 3.5 = $40