Question: Mobray Corp. is experiencing rapid growth. Dividends are expected to grow at 2 6 percent per year during the next three years, 1 6 percent

Mobray Corp. is experiencing rapid growth. Dividends are expected to grow at 26 percent per year during the next three years, 16 percent over the following year, and then 9 percent per year indefinitely. The required return on this stock is 11 percent, and the stock currently sells for $90 per share. What is the projected dividend for the coming year?

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