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1. Kacys, Inc. paid a dividend of $3 per share last year reflecting a constant growth rate (g) of 6%. The required rate of return

1. Kacys, Inc. paid a dividend of $3 per share last year reflecting a constant growth rate (g) of 6%. The required rate of return is 11%. What is the fair market value/price (P₀) of their common stock? (5)

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