22. Constant-Growth Model. Fincorp will pay a year-end dividend of $2.40 per share, which is expected to

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22. Constant-Growth Model. Fincorp will pay a year-end dividend of $2.40 per share, which is expected to grow at a 4% rate for the indefinite future. The discount rate is 12%. (LO2)

a. What is the stock selling for?

b. If earnings are $3.10 a share, what is the implied value of the firm's growth opportunities?

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