You own $100,000 worth of Smart Money stock. One year from now, you will receive a dividend
Question:
You own $100,000 worth of Smart Money stock. One year from now, you will receive a dividend of $2.65 per share. You will receive a dividend of $2.85 two years from now. You will sell the stock for $91 per share three years from now. Dividends are taxed at the rate of 20 percent. Assume there is no capital gains tax. The required aftertax rate of return is 9 percent. How many shares of stock do you own?
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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To find the number of shares owned we can divide the amount invested by the stock price The ...View the full answer
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Related Book For 
Corporate Finance Core Principles and Applications
ISBN: 978-1259289903
5th edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
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