Question: Please show step by step with formulas and calculator strokes! 8. Thompson Industries pays a constant dividend of $4 per year at the end of

Please show step by step with formulas and calculator strokes!

8. Thompson Industries pays a constant dividend of $4 per year at the end of each year. The annual dividend yield on its stock is reported as 5%. What stock price should Thompson Industries have as of today? (7 points)

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