Kelligrews Inc. has an odd dividend policy. The company has just paid a dividend of $3 per
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Kelligrews Inc. has an odd dividend policy. The company has just paid a dividend of $3 per share and has announced that it will increase the dividend by $5 per share for each of the next five years, and then never pay another dividend. If you require an 11% return on the company’s stock, how much will you pay for a share today?
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The price of a stock is the PV of the future divide...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781259654756
10th Canadian Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan, Gordon Roberts, J. Ari Pandes, Thomas Holloway
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