Question: Problem 8-19 Supernormal Growth (L01) 3 Mobray Corp. is experiencing rapid growth. Dividends are expected to grow at 24 percent per year during the next

Problem 8-19 Supernormal Growth (L01) 3 Mobray Corp. is experiencing rapid growth. Dividends are expected to grow at 24 percent per year during the next three years, 14 percent over the following year, and then 8 percent per year indefinitely. The required return on this stock is 10 percent, and the stock currently sells for $86 per share. What is the projected dividend for the coming year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) 01:24:22 Projected dividend eBook

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