Constant growth: Michael Myers Corporation (MMC) paid a dividend of $2.50 yesterday. The company's dividend is expected
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Constant growth: Michael Myers Corporation (MMC) paid a dividend of $2.50 yesterday. The company's dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies like the Michael Myers Corporation require a rate of return of 15 percent, what should be the market price of MMC stock?
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