Question: please show steps without using excel Common stock X pays a dividend of 50 at the end of the first year, with each subsequent annual

please show steps without using excel Common stock X pays a

please show steps without using excel

Common stock X pays a dividend of 50 at the end of the first year, with each subsequent annual dividend being 5% greater than the preceding one. John purchases the stock at a theoretical price to earn an expected annual effective yield of 10%. Immediately after receiving the 10th dividend, John sells the stock for a price P. His annual effective yield over the 10 year period was 8%. Calculate P

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