A stock has just payed its annual dividend at $1.1/share. The dividend payments are expected to stay
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A stock has just payed its annual dividend at $1.1/share. The dividend payments are expected to stay at the current growth path of 1.3% per year indefinitely. Investors require a return of 7.1% for this type of stock. What is the price?
(Round your answer to the nearest $)
Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
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