Question: Problem 9.18 ab Kenneth Clark is interested in purchasing the common stock of Pharoah, Inc., which is currently priced at $41.01. The company is expected

Problem 9.18 ab Kenneth Clark is interested in purchasing the common

Problem 9.18 ab Kenneth Clark is interested in purchasing the common stock of Pharoah, Inc., which is currently priced at $41.01. The company is expected to pay a dividend of $2.58 next year and to increase its dividend at a constant rate of 7.60 percent. What should the market value of the stock be if the required rate of return is 14 percent? (Round answer to 2 decimal places, e.g. 15.20.) Market value of stock Is this a good buy? Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 2 used

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