Favre, Inc., just paid a dividend of ($2) per share on its stock. The dividends are expected

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Favre, Inc., just paid a dividend of \($2\) per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year, indefinitely. If investors require a 12 percent return on Favre stock, what is the current price? What will the price be in three years? In 15 years?

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Fundamentals Of Corporate Finance

ISBN: 9780072313000

5th Edition

Authors: Stephen A Ross, Randolph W Westerfield

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