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14. Texas Cattle Companys stock paid its annual dividend of $0.75. The annual dividends are expected to grow at a constant rate of 4 %.
14. Texas Cattle Companys stock paid its annual dividend of $0.75. The annual dividends are expected to grow at a constant rate of 4 %. If the required rate of return on this stock is 11%, what is the price of the stock?
15. General Plastics paid a $2.00 dividend last year. It is expected to pay dividends that grow at 4% for the next 5 years and 3% thenceforth. The required rate of return on General Plasticss stock is 10%. What is the value of the stock?
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