Mitchell Mineral Water, Inc., will pay a quarterly dividend per share of $.95 at the end of
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Mitchell Mineral Water, Inc., will pay a quarterly dividend per share of $.95 at the end of each of the next 12 quarters. Thereafter, the dividend will grow at a quarterly rate of 1 percent, forever. The appropriate rate of return on the stock is 11 percent, compounded quarterly. What is the current stock price?
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The current stock price 1 1 01112 1 11112 222 As ...View the full answer
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Related Book For 
Corporate Finance
ISBN: 9781260772388
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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