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1. XYZ, Inc. will pay a constant $8.25 dividend per share for the next 13 years and then cease to pay dividends for the rest
1. XYZ, Inc. will pay a constant $8.25 dividend per share for the next 13 years and then cease to pay dividends for the rest of its existence. If the required rate of return on the stock is 12%, what is the current price? Round to the nearest $0.01.Hint: What is the fair price of any financial asset?
Note: For problems solved in the financial calculator, please list your inputs. Otherwise, show all your work (each step) using the formula.
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