Question: Problem 8 - 1 2 Dividend Initiation and Stoc'k Value ( LG 8 - 6 ) A firm does not pay a dividend. It is

Problem 8-12 Dividend Initiation and Stoc'k Value (LG8-6)
A firm does not pay a dividend. It is expected to pay its first dividend of $0.42 per share in three years. This dividend will grow at 11 percent indefinitely. Use a 12 percent discount rate.
Compute the value of this stock.
Note: Round your answer to 2 decimal places.
Stock value
Problem 8-12 Dividend Initiation and Stoc'k Value (LG8-6) A firm does

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