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6. A stock will pay a dividend of $1.8 exactly one year from now. Future dividends will grow at a constant 2.4% every year thereafter
6. A stock will pay a dividend of $1.8 exactly one year from now. Future dividends will grow at a constant 2.4% every year thereafter and the stock's required rate of return is 9.2%. If the current price is $15.23, what is the Net Present Value (NPV) of purchasing one share of stock today? Round your answer to the nearest penny
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
