Question: Summit Systems will pay a dividend of $ 1 . 4 4 $ 1 . 4 4 one year from now. If you expect Summit's

Summit Systems will pay a dividend of
$ 1.44$1.44
one year from now. If you expect Summit's dividend to grow by
6.7%6.7%
per year, what is its price per share if its equity cost of capital is
10.3%10.3%?

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